Ideally situated on a bustling High Street, this investment offers excellent exposure and easy access. It is an entry-level, "set and forget" opportunity with no additional capital required.
Shop 1
Size & Use: 59m² currently operating as a hairdressing salon.
Lease Details: Three consecutive 1-year leases commenced on 02/05/2023, with current rent at $15,295 per annum and an annual fixed increase of 3%.
Expenses: Council rates are approximately $2,431.55 per half year.
Additional Info: The long-standing tenant has been in situ for several years and has recently completed a full internal renovation.
Shop 2
Size & Use: 46m² currently operating as a massage business.
Lease Details: Three consecutive 1-year leases commenced on 01/09/2023, with current rent at $14,162 per annum and a fixed 3% increase each year.
Expenses: Council rates are approximately $2,257.45 per half year.
Body Corporate & Additional Costs
The property is managed under a simple Body Corporate arrangement, with costs split equally with the owner of Shop 3.
The allocated insurance expense for Shops 1 and 2 is $2,325 per year.
Constructed from core-filled concrete block, the property requires no further work, with insurance being the only expense for the body corporate.
Enquire today for further information.
Property ID: #L32869822
