$560,000
Why is she selling? This commercial unit in Yarralumla has been so successful for its current owner that her business outgrew the 47 sqm premises, and she had to relocate to Kingston. As a result, the owner is sadly saying goodbye, and we are hoping you say great buy when you bid and own unit 3, 29 Bentham Street Yarralumla.
How to take ownership: Pre-auction offers are not an option as this is not a transparent way to sell, and we want to allow sufficient time to enable you to make your inquiries without threat.
The published reserve is $540,000 - based on an independent valuation. The owner is committed to selling.
Settlement terms are flexible for up to 60 days, and early access to prepare the premises after exchange and before settlement is acceptable.
The auction will be held onsite Saturday, the 28th of October, at 11 a.m. if you register and bid and are successful, we will ask you to pay the deposit ($1000 acceptable on the day) with 10% at risk.
It's an active asset, so GST does not apply to the sale; what you bid is what you will pay. Stamp duty is exempt for commercial properties in this price range in the ACT.
Outgoings:
Annual rates for 2023: $7,791 land tax doesn't apply.
Water and sewage (not usage of water) $667
Body corporate charge 2023: $6,074
Repairs allowance: $500
Total estimated outgoings: $15,302
Income and ownership potential:
The zoning is CZ4 local centre, which allows a broad range of permissible usages.
It's a tightly held precinct; from our enquiries, this is the only ground-floor unit available for rent or ownership in Yarralumla local centre.
Egans National Valuers have provided an independent rental estimate of $44,650 annually, or $850 per week.
We have spoken to several banks who have indicated an eagerness to lend at an 80% loan-to-value ratio at a benchmark rate of 6%.
The double-glazed unit benefits from abundant free car parking spaces at its doorstep. Inspections can be arranged on Saturday and Sunday mornings by calling Frank Walmsley on 0400446605;
Please email me directly at contact@auctionadvantaqge.com.au, and we will send through the auction agreement and property information.
