10 Reibey Street, Ulverstone

Offered for sale in the picturesque town of Ulverstone in the central business district is a commercial property with a modern hairdressing salon as tenant plus a further residential tenancy of the fully upgraded and neat and tidy 2 bedroom unit. The unit has a long term tenant with a lease in place as does the hairdressing salon currently with 2.5 years remaining on the 3 year lease. Based on asking price this diverse property is showing a total rental yield of 6.5%. However breaking the site up into residential and commercial to demonstrate yields shows the following rental details: Ground floor commercial rent: $18,720 + GST + Outgoings At a 7% commercial yield this rental income shows a potential value of $260,000 (approx.) First floor residential rent: $10,790 At a 5% residential yield this income shows a potential value of $215,000 (approx.) This property would be ideal for a first time commercial investor or as an addition to a portfolio or super fund. • Ground floor commercial tenant • New 3 x 3 lease commencing Jan 2017 • Busy and popular local business • Long-term first floor residential tenant • Modern and appealing 2 bed residence • Popular location close to all amenities and shops • Ideal addition to a portfolio or super fund For further details on this property please phone the listing agent