This Investment Property features a premium tenant, with a good stable track record. With another 5 years remaining in the Lease, this property presents great value to any investor looking to purchase a well-maintained city centre property, with a long standing tenant and great future outlook for stability.
Lease Details:
Tenant: Palmerston Association Inc.
Lease Expiry: 4 September 2024
Rent Income: $90,180 per annum
Outgoings: $26,837 per annum (payable by the tenant)
Rent Reviews: Fixed 3% per annum
Tenant Details:
Palmerston Association is a leading and respected not-for-profit provider of alcohol and other drug services. They have a rich and proud history of providing support through a range of services including counselling, groups, residential rehabilitation and educational initiatives. Their free community services are in nine locations in the metropolitan area and Great Southern region. They have two residential rehabilitation services, one in the southern suburbs of Perth and one in the South West.
Improvements:
- Extensive Fit-out (spent approx $500,000)
- New A/C system installed (Late 2017)
Expressions of Interest close Wednesday 16 October 2019 4pm (AWST).
For further information or to arrange an inspection please contact:
Enrique Reyes
Ray White Commercial (WA)
M:0421 888 688
E:enrique.reyes@raywhite.com
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