Approximately $116,000 net income from two quality tenants, one in early stages of a 5 year lease with 5 yr option, the other, long term tenant, just starting a 2 year lease with 2 year option. 200sqm remaining for a 3rd tenant.
Sought-after location, just off the main street, surrounded by law firms, accountants and other professionals.
* New lift in place.
* Disability-friendly ramp access from Montague Street
* Eight private car spaces, including lock up garage at the rear.
* Access both front and back.
Approximately 800sqm of floor space overall, divided equally between ground and first floor; 400sqm of ground floor leased to Aruma Family Services, on the 5x5yr term for $84,000 ex GST, plus outgoings.
Directions Health leases approximately 200sqm upstairs, for $46,320 gross per annum, (about $32,000, plus GST, plus outgoings), with an adjoining, large open space of approximately 200sqm currently vacant, up for lease at $160 per sqm ($32,000 net) per year.
The vacant space has a separate manager's office, meeting room and kitchen/ meals room with dishwasher. There are a large number of computer desks and other office equipment available with this space.
Downstairs has automatic sliding doors from the street, with lifts and stairs in the entry hall. Enter another set of automatic doors for the ground level space of approximately 400sqm, which is getting a massive upgrade from Aruma, on the long term lease.
* Several timed and untimed car spaces for clients, in addition to the private rear parking.
* Separate Mens and Ladies Toilet facilities, plus separate shower.
* Recently renewed ducted reverse cycle air.
* Double glazed windows upstairs, for year round comfort.
Total return potential of approx. $148,000 per annum, (8.22% net return), with approx. $116,000 pa income (6.44% net return), currently, while 600sqm is leased.
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