An exceptional opportunity to secure a high-performing commercial investment in one of Phillip's most prominent and accessible locations.
Positioned within the sought-after RZ3 Urban Residential Zone, this property benefits from zoning objectives that encourage medium-density development, urban intensification, and mixed-use environments. The RZ3 zone promotes redevelopment, sustainable housing choices, and integration with public transport and local amenities-making it ideal for long-term investment and growth 1.
This expansive 845 sqm property is currently leased to a reputable long-term tenant, The Salvation Army, on a 5-year lease ending September 2029, with a further 5-year option to relet. The lease includes a fixed 3% annual rent review, applicable during both the initial term and the relet option, ensuring consistent income growth.
Key Investment Highlights:
Net Lettable Area: 845 sqm
Net Passing Income: $227,896 p.a.
(equivalent to $269.70 per sqm)
Outgoings:
Rates: $106,572 p.a.
Body Corporate: $30,092 p.a.
Water: $1,368 p.a.
Total Expenses: $138,032 p.a.
Lease Terms: 5 + 5 years with 3% annual increases
Tenant: Salvation Army – long-standing and stable
Zoning: RZ3 – Urban Residential Zone
Property Features:
Excellent Condition: Well-maintained, modern structure
Open Plan Retail/Warehouse Layout: Flexible and functional space
Dual Street Frontage: Highly visible from two major thoroughfares, enhancing exposure and foot traffic. This strategic frontage maximises customer accessibility and brand visibility-ideal for retail, showroom, or service-based operations.
Extensive On-Site Parking: A rare and valuable asset in the town centre
Proximity to Phillip Town Centre Attractions: Surrounded by retail, dining, and service hubs
Staff Amenities: happy staff happy business.
This is a rare chance to acquire a secure, income-generating asset in a tightly held precinct with strong tenant history and future development potential.
Disclaimer: All care has been taken in the preparation of this marketing material, and details have been obtained from sources we believe to be reliable. Blackshaw do not however guarantee the accuracy of the information, nor accept liability for any errors. Interested persons should rely solely on their own enquiries.
