INVESTMENT - $650000

Description

MODERN INDUSTRIAL FREEHOLD PROPERTY * Developed in 1992 and comprises four industrial units which are all tenanted by two established businesses. * Units 1 & 2 are occupied by "John's Service Centre" who have been there since it was built. They are on a new 3yr x 3yr lease commencing 20th August, 2008 at $32,000 pa (plus GST). * Units 3 & 4 are occupied by "G r B Sons Driveshaft Services" and have been there since 1998. They are also on a new 3yr x 3yr lease commencing 20th August, 2008 at $30,000 pa (plus GST). * Both tenants are on annual C.P.I. increases and pay for excess water usage, rubbish removal and share of oil seperator fluid removal. * Each Shed is 155m2 and are all serviced by individual shower, toilet and washroom areas. Offices are also built in all four sheds. * The building has an EPA approved "oil seperator" unit installed to the sump area of each shed to allow for mechanical type businesses to be operated. * The property has been well maintained since it was built with the following work done in the past couple of years to bring it right up to date, i.e. 4 hot water systems replaced, two new oil seperator pumps installed, light fitting upgrade to units 3 & 4. * Income Schedule: Current Gross Income - $62,000 pa Outgoings - Council Rates $3172, Water Rates $500 (approx), Land Tax - $670, Insurance $1789 Estimated Net Annual Income - $55,869 pa * List Price - $650,000 which provides a return to an investor of 8.59% * Summary - Excellent opportunity to acquire a modern and well maintained freehold investment that houses two established and well respected businesses that have been in the same location for many years generating repeat clientele. Investment in equipment by both companies is substantial which is not easy to relocate. Contact David Rogers 0425 267 111