This immaculately maintained two-story building is located in Townsville's main street, opposite the new Woolworths & City Arcade development. The Townsville CBD Super Stadium is under construction only 300 metres away and the new Townsville Bus & transport hub has been completed in Ogden Street to the rear of this property.
The ground floor tenancy of 267 sqm is leased to Mary Who bookshop which is a well known and longstanding local institution in the book world and a licensed ABC retailer.
The first-floor professional office tenancy of 277 sqm is leased to a national environmental engineering firm Alluvium. This tenancy has a high-quality fit-out including shower and changing facilities and is capable of housing up to 15 staff. A $30,000 renovation was completed for Alluvium which included a shower/change room and kitchen upgrade.
Both levels are self-contained and have access to the secure rear car park with electric gate access with room for 8 vehicles.
The property is subject to commercial leases producing a current net income of $92,444.02 per annum + GST.
There is an upside in the rental income currently being achieved for the first-floor office. A reduced rental of $130 per sqm gross was agreed to for a 2-year term whilst major works in the CBD were completed.
412-414 Flinders Street is an exceptional opportunity to enter the tightly held Townsville CBD Market with strong returns and great future potential.
Contact marketing agents Ray White Commercial to receive a copy of the information memorandum or to inspect.