This fully leased investment is actually the Mullane and Lindsay Building. A (4) storey office building with a basement car park in the heart of the the Civic/Legal/Education Precinct in the Newcastle CBD..
The partners in the ownership of the building need to sell as they head into retirement. This is an opportunity to buy a complete building with a superb tenancy mix in a location that offers access to the law courts, access to the University's City Campus, access to the light rail, access to restaurants, pubs and the water front, access to Newcastle's two best Hotels the Rydges and the Crystalbrook Kingsley. AND access to parking both on site and in public and private car parks. That's why the tenants love it!
With a WALE of 4.01 years there is investment security, and with the owners having repainted the building last year, installed a new lift in (2020), installed new shop front entry and door, resealed the roof, with a (10) year guarantee and removed and replaced air conditioning as required there is not much else in the way of capital expenditure left to do.
Returning $271,925 pa Net of outgoings this boutique office building is a CBD Beauty!