• Secure two adjoining mixed use Freehold Titles
• Combined estimated income of $114,667 +GST
• Combined land area of 2,069sqm (more or less)
• Combined building area of 586sqm (approximately)
• Leased to one commercial and two residential tenants
The property comprises two adjoining residentially zoned sites that have been developed with a commercial workshop and warehouse building occupying approximately two thirds of the land plus two residential investment dwellings on the remaining area.
The anchor tenant is Stewart Motors, an established auto service centre business who provide a comprehensive range of vehicle repair and fleet maintenance options together with tyre sales and wheel alignments. The balance of the rental income is derived from two periodic residential tenancies positioned to the right and rear of the property.
Given the mixed-use nature of the property, this asset may well appeal to a future residential owner occupier looking for a home and an onsite income situation or alternatively a passive investor seeking a proven income earner with a competitive return.
Long term the medium density residential zoning provides for higher residential density rates and more onsite intensive design matters maximising the potential for future development of the property.
Do not miss this rare opportunity to secure a spilt risk investment, call the sole agents Brendon Bradley or Larissa Reid today.
