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The 'Causeway' complex is located of Wentworth Avenue being close to the Kingston foreshores. Close proximity to cafes and other professional businesses. This is a prime investment! Available for purchase now is unit 10 situated in the Kingsborough Warehouse, a modern mixed use development.
Unit 10 has corner exposure right next to a shared courtyard allowing for good natural light. The unit is presented with an open plan fit out with timber flooring, air conditioning, kitchenette and bathroom with shower. There is one carapace in the basement with the unit. The unit is currently leased out as commercial but has a wide purpose clause that allows residential.
Currently the unit is leased on the following terms:
- 3 + 3 year Lease Commenced on 1 October 2022
- Gross rent of $39,775 Per Annum + GST
- 3% yearly increases with market review on option
The Lessor pays the statutory outgoings on the property being, rates - $1,848, Land Tax - $2,200 Water/Sew - $700, Body Corp - $4,651.
The Net rent equates to $30,376 Per Annum + GST.
The property will be sold via expressions of interest if not sold prior closing on the 15th June 2023. There is NO GST or Stampduty applicable.
Contact Barton Commercial Property for more information today.
Remember to mention you found this property on CommercialReady
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