Fully leased Investment with Future Development Potential is available to purchase by way of "Offers Invited" closing on the 12th of April 2018 at 4:00pm WST (the owner reserves the right to sell prior to the closing date).
Located on the corner of Scarborough Beach Road and Hinderwell Street, Scarborough within the Scarborough Redevelopment Area as administered by The Metropolitan Redevelopment Authority adopted in 2016.
The commercial building is modern, high quality and fully leased to Optimal Pharmacy until the 8th of January 2027 with fixed 3.5% increases annually.
This is a great opportunity for a sophisticated investors to secure medium term income, with the advantage of the longer term redevelopment potential.
Building Area: 500sqm approx.
Land Area: 1,283sqm approx.
Car-Bays: 17
Passing Net Income: $215,175 pa + outgoings + GST
Term: Lease Expiring on the 8th January 2027
"Offers Invited" closing on the 12th April 2018 at 4pm W.S.T (the owner reserves the right to sell pripr to the closing date).
For more information, to arrange and inspection or to obtain a copy of the IM, please contact Jonathan or Con today.