Tenanted investment until 31st January 2021, this freehold property with Highway exposure offers you a long term income from day 1. Tenanted from July 2015, the initial lease has another 4 years to run, followed by an option to renew for a further 5 years.
Trading as Nate Butler's Studio, the current rent is $28,365 per annum + Outgoings + GST. Under the terms of the lease the tenant is responsible for 100% of Council Rates, water usage, insurance, ground and garden maintenance, Fire Safety and air conditioning maintenance.
Annual CPI increases and a market review at the option period enhance the current rental and keep your investment ticking over in the right direction.
Current rental rate of $151/m2 gives plenty of upside for future rental growth.
Recent approval for a Service station and fast food premises on the neighboring block is a positive and will only enhance the exposure for this property and the sitting tenant.
Freehold, Freestanding building means you have control of the property without Strata costs or having to compromise with other owners.