Gunning Real Estate is pleased to exclusively present this free standing property which includes a self storage facility as a going concern, retail shop and caretaker's residence as tenanted investments.
The property is located on the high exposure corridor near high volume bulky goods retailers in the Caringbah industrial area.
This represents a rare opportunity to secure multiple and diversified income streams with strong upsides for further development and appreciation in this growth area.
Eze-Store Self Storage is an independent company which has successfully operated for over 30 years at this location. The 40 self-storage units of various sizes have rentals ranging from $100 to $600 per unit per month.
The multiple income streams include:
40 Self Storage units/facility:
• Occupancy fluctuates between 65 - 75%+
• Tenants are under month to month rental agreements
• 67% occupancy currently produces revenue of $84,000 PA ex. GST
• Strong potential to improve the occupancy level and profits
• Potential to add another level of self storage (STCA)
HIGH POTENTIAL TO INCREASE RETURNS
• 70 sqm approx.
• Rent $34,909 PA ex. GST
• 3 year lease from 11/2016 - 11/2019
• Annual rental increase to CPI
• Long history of successful retail trading from this site
• 1 bedroom fully self-contained unit
• Long term tenant
• Month by month lease
• Rent $300 per week / $15,600 PA
First Floor Offices:
• Two offices and foyer - 48 m2 approx.
• Office 1 used for Eze-Store
• Office 2 is vacant - additional rental potential
Total revenue of $134,509 PA ex. GST approx. with high potential to increase revenue.
For interested parties who prefer a non-active role in managing the self storage facility we can discuss how this could be achieved.
PROPERTY PLANNING CONTROLS AND PARTICULARS:
Zoning: ING 1 - General Industrial
FSR: 1.5:1 Range (1.50 -1.99)
Height of Building: 16m maximum
Dimensions: 12.62m / 12.29m x 87.5m / 85.78m
Land Area: 1056 m2
Engineering plans are available showing the self storage area was originally engineered and approved for a single large factory unit, representing a possible upside for further development (STCA).
The property will be sold and is an opportunity not to be missed!
For more information or to inspect the property, please contact:
P: 0432 878 398