Essential Services & Australian Government Tenanted Arcade Investment
Auction Location: Online.
Burgess Rawson are delighted to exclusively offer for Sale by Auction this outstanding investment The Focal Point Arcade. Fully leased with strong tenancy mix including the Commonwealth Government – Federal Member for Monaro, Matrix Physiotherapy & Rebecca Ellison Acupuncture.
The Focal Point Arcade at 21-25 Monaro Street comprises a single level building on a substantial 1,416 sqm site with prominent frontage on the busiest main road in the heart of Queanbeyan's CBD. Approximately 20,000 vehicles pass the property every day.
The property has undergone a significant recent upgrade, with renovations being completed early in 2016 and again in 2018. The total rejuvenation was completed for a sum in excess of $1,200,000, and includes complete new roof with substantial insulation, new ceilings, LED lighting, air conditioning and carpets in the public areas, external building signage, as well as significant high quality modern improvements to the tenancies.
Queanbeyan enjoys a weather system much like Canberra, and is also a mere 2 hour drive from the South Coast, and just over 2 hours from the Snowy Mountains snow fields.
Queanbeyan's mixed economy is based on light construction, manufacturing, service, retail and agriculture. Queanbeyan also hosts the Queanbeyan-Palerang Regional Council.
Highlights Include:
- Dominant Essential Service Medical and Australian Government tenants
- Recently refurbished building on 1,416 sqm land parcel including new roof and public upgrades
- Prominent and wide main street exposure since 1896
- Recent upgrades and expansion of the region's best Physiotherapy Matrix doubling in size.
- New update of public areas completed early 2016 and new roof 2018 plus, over $1,200,000 in works
- Centrally located close to Riverside Plaza – major shopping centre including Coles, Target, Kmart, and other retail and community services
- Includes 8 car spaces on title, plus approximately 250 space public parking at rear of building
- Attractive 3% annual rent increases for continued growth
- 100% occupied and long standing tenants in location with renewed leases.
Lessee: Matrix Physiotherapy
Lease Term: 5 years
Lease Commencement: 1st May 2021
Lease Expiry: 30th April 2026
Options: 1 x 5 years
Lessee: Rebecca Ellison
Lease Term: 4 years
Lease Commencement: 1st January 2021
Lease Expiry: 31st December 2024
Options: 1 x 4 years
Lessee: Commonwealth of Australia
Lease Term: 3 years
Lease Commencement: 1st January 2021
Lease Expiry: 31st December 2023
Options: 2 x 3 years
Net income $258,887.92 pa + GST
Remember to mention you found this property on CommercialReady.com.au
