Dixon Commercial Real Estate are pleased to present the AMP Building for sale by Expressions of Interest closing Friday 8 March, 2024 at 4pm.
Superbly positioned at the heart of Albury's primary commercial and retail precinct, this landmark CBD retail investment is located on the corner of AMP Lane and Dean Street on a site of approximately 849 square metres.
With a high occupancy rate, the opportunity provides for a versatile investment comprising three (3) separate sectors of real estate across three (3) levels:
- Ground Level: Five (5) separate retail and office tenancies, with one (1) vacancy comprising 275 sqm of retail/food & beverage space.
- First Floor: Sixteen (16) separate office suites, leased to various office occupiers on various tenures.
- Second Floor: Three (3) separate 1-Bedroom residential apartments all leased on various tenures.
The current gross passing income for the building is $312,554 per annum, as at 18 January, 2024.
Other key highlights of the opportunity include:
- Approximately 850 square metres of lettable commercial space over the Ground Floor and Level One.
- Iconic Central Albury Shop Top living with 3x 1-bedroom apartments, built with huge proportions in an art deco style.
- Commanding corner site in the tightly held retail and commercial hub of Albury.
- Ample parking with a close-by multideck all-day car park.
- Fully leased net operating income of approximately $330,000 per annum with value-add and income growth potential.
The offering presents an opportunity for buyers to invest in the medium to long-term, with an opportunity for future development (STCA) and continued value-add of an iconic Albury building.
To request an IM with the tenancy schedule or to arrange an inspection, please contact the agents below.
Terms: 10% deposit, balance 60 days.