Michael Feltoe & Lachlan O'Keeffe are pleased to present for sale 1/129 Boat Harbour Drive, a single-tenanted investment on a recently extended 6 year net lease to Cash Converters Hervey Bay.
|What|
• A single tenanted passive investment leased to an experienced 36-store Cash Converters operator
• Recently extended 6-year net lease to 2029, with the tenant responsible for all outgoings
• Prime positioning in the high-profile Midway Place LFR Centre, with exposure to over 17,400^ vehicles daily and direct access off Boat Harbour Drive.
• Net Income of $103,071 + GST p.a.
|Where|
• High-profile 417sqm* building in the heart of Hervey Bay, the commercial heartland of the Fraser Coast region
• Hervey Bay is the largest city in Queensland's Fraser Coast region, with a population of almost 59,000 people, and is tipped to lead population growth in the region over the next 20 years
• At the heart of the Hervey Bay commercial district, with significant traffic-generating amenities including the Stockland Shopping Centre within 250m*.
|Why|
• An ultra low-maintenance investment, with the tenant responsible for the day-to-day maintenance of the property
• An experienced Cash Converters operator with over 36 stores across Australia
• Fixed 4% rental increases
• ASX-listed Cash Converters are the preeminent personal finance and secondhand retail brand in Australia, with over 150 stores nationwide and over 600 stores worldwide
*Approximate
^Sitewisely
** 2022 Toowoomba Development Status Report
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