This 52m2 strata unit is sited on the edge of the central town district in a group of approx. 16 Shop/Office tenancies is a great little investment opportunity.
Each unit has its own kitchen tea prep area but the toilets are shared in the complex.
There is a fresh 3 year lease which commenced 1st September 2024 with a 2 year option has just been drafted for this longstanding tenant of well over 15 years.
The current NET RETURN AFTER EXPENSES is approx $15,000 ie approx 7%pa return
It is a gross lease where the owner gets a higher rent but pays the outgoings, and the tenant just pays the consumables.
• The gross rent is $22,239pa
Current Expenses are:
• Council rates are $1867 pa
• Water $1046 ($174.28/2months)
• Strata $4235pa ($1058.70/qtr) this includes the building insurance
ie approx net return based on the asking price after expenses is $15,000 ie approx 7%pa return
The rent reviews are annual CPI increases except a market review if the option is exercised
We recommend you do not hesitate with your decision to buy as affordable investments like this are hard to find especially ones with a quality tenant that assures you are paid every week. The owner is not registered for GST, so there is no GST payable.
Contact Peter Vetten, your commercial property specialist with Local Knowledge and National Strength. DISCLAIMER: Every care has been taken to verify the accuracy of the information contained in this advertisement, but no warranty (either express or implied) is given by Raine & Horne or its agent, as to the accuracy of the contents. Purchasers should conduct their own investigations into all matters relating to the proposed purchase of the property.
