Expressions of Interest closing at 5.00pm (CDST) on Friday 20th February 2015 at the offices of LJ Hooker Commercial Adelaide.
Property Description:
Constructed circa 1980, the property has been developed with a split level commercial office
building of brick construction.
The property has a Net Lettable Area (NLA) of some 1033 sqm.
Parking to the front of the building is a bituminised area with access from Belair and
Agnes Roads,providing car parking for approximately 49 cars (1 space: 21 sqm of NLA).
Site Area 2,624 sqm approximately
Tenure: Freehold
The building is predominately occupied by Kingswood Medical Clinic.
Other tenancies include The Support House, Inspire Hawthorn, Baker Solutions Group and
Robert Leader
Lease Expiry: The existing leases expire between 2015 & 2018, with the medical centre expiring 30th June & Options 2015, with one option of five (5) years.
Income Summary:
Gross Income: $282,644*
Less Budgeted 14/15 Outgoings: $64,828*
Net Passing Income: $219,000*
*Approximately
The key features of 198 Belair Road are as follows:
- Located in the prestigious suburb of Hawthorn and within the 'township' of Mitcham. The location is supported by great retail and boutique commercial tenants.
- Many of the leases are considered under market allowing the potential to gain significant reversionary rental increases at market reviews within the next few years.
- The appetite for medical services tenanted real estate has experienced growing demand in recent years due to the strong and secure fundamentals of the tenant.
- Further more, record low interest rates providing for a wider spread of net return and a lack of available quality stock is sure to see 198 Belair Road, Hawthorn will receive strong interest from the investor market.
- Multiple tenancy allows for greater flexibility and spread of risk.
Method of Sale:
198 Belair Road, Hawthorn is being sold by Expressions of Interest closing at 5.00pm (CDST) on Friday 20th February 2015 at the offices of LJ Hooker Commercial Adelaide.
Further Details For further queries on this offering please don't hesitate to contact the selling agent:-
