Purchase for circa 5% + huge capital growth potential! (3.5% annual increases)
Elders Commercial Brisbane is pleased to present to the market the sale of 5 Morse Street, Newstead. The quality asset comprises a fully leased modern character style, converted warehouse to yoga and rock climbing studio located within the James Street precinct. The property is backed by a strong covenant to national well established Urban Climb Pty Ltd with a remaining 7.5 WALE. Other features of the property include:
- 515m2* of net lettable area in current use for climbing/yoga facility
- 405m2 of mixed use inner-city land parcel with future development upside
- Solid tenant with over thirteen (13) years of trading history
- Market rental income of $176,963 net per annum + GST
- Twelve (12) month bank guarantee in place
- The property comprises three (3) access points including two (2) legal easements, accessed from the Brisbane City Council park
- Fully air-conditioned with exceptionally high ceilings and natural light
- Located only 100m from the new Calile Hotel and James Street Markets
The features of this stunning converted warehouse overlooking an inner-city park have always made this property highly desirable to an array of tenants leading to an extraordinary period of 20+ years without a vacancy.
This is a genuine opportunity for all investors wanting to own a securely long term tenanted asset in the heart of the James Street precinct. For more information or to organise an inspection, please don’t hesitate to contact your EXCLUSIVE Elders Commercial Agent today!