A LONG STANDING TENANT EQUALS A LONG STANDING RETURN. - Under Offer
POINT OF INTEREST:
**THIS CAMPAIGN HAS NOW CLOSED. OFFERS ARE UNDER REVIEW.***
You’ve found it: the asset-needle in the investment-market-haystack. This is an offer that ticks every box, adds more to the list, then ticks that too. Long term security, hard-to-find affordability and a tightly-held location. If these are your criteria, then this investment opportunity may just be the one for you.
Leased to Eastern Window Tinting Pty Ltd trading as well known Australian brand Tint-A-Car, who have just signed a new five-year lease in February 2023, and have been occupying this premises for over 10 years. And with that lease renewal comes a $36,000 per annum income and guaranteed annual increases of $3000 each year (8.3% p.a approx.) so you can sit back and let those numbers continue to tick over.
The well-maintained building is currently set up to feature a light-filled reception area, storeroom, staff amenities and air-conditioned office space complimenting a clear span warehouse area serviced by a glass flip door system with great vehicle access in addition to four car spaces on title. Only a handful of properties in the estate and all with Heatherdale Road exposure and frontage.
With the tightly-held suburb of Ringwood rated as a Tier 1 Commercial zone and industrial and commercial supply in this area notoriously low, there is exceptional access via Eastlink, Canterbury Road and public transport all adding to the calibre of the opportunity.
- Total Building Area: 280*sqm
- Leased to Tint A Car in occupation for over 10 years.
- Renewed 5 year lease (February 2023).
- Leased income: $36,000 per annum.
- Security Bond: 2 months + GST.
- Annual increases: fixed $3000 per year (8.3% p.a. approx).
POINT OF VIEW:
We’ve saved you the trouble of looking for that perfect portfolio addition. With a 10 year plus tenant, new 5 year lease and large built-in rent increases this one is as good as it gets at a price point.
*Approx.
Pricing excludes GST
Remember to mention you found this property on CommercialReady
