Here is an excellent opportunity to own a commercial property that has a long-standing tenant within the modern complex of The Grange in the rapidly growing Warkworth region. More housing developments are in the pipeline aided by the opening of the Northern Motorway, which will create demand for commercial activities.
Lack of modern commercial properties for sale indemnifies the value for investors. This is a hybrid style property having warehouse and retail type options. Could be a split-risk prospect in future.
Astute buyers must look at these key highlights:
• Stronger yield than the Banks in this declining interest rates environment
• Strategic growth location as many new sub-divisions come up all around
• Large format bulk-retail / warehouse unit with separate roller door
• Established tenancy since the complex was built in 2016
• Yielding a net income of $92,295 pa + GST + outgoings
• Annual CPI rent review + market rent review in 2026
• Tenant has renewed the lease until final expiry in 2030
Rarely do properties like this come on the market in Warkworth that have the location, size, tenancy & lease to appeal all commercial investors seeking a long-term view in this desirable town where the population is expected to grow five times over the next decade.
The Grange attracts high patronage from the fast growing local and surrounding communities and passing traffic wanting a pit-stop. This complex built in 2016 provides a good mix of hospitality, retail and service providers anchored by McDonalds, BP and Educare Childcare Centre. Other known brands within the complex include The Coffee Club, Tank Juice Bar, Dominos Pizza, St. Pierre's Sushi and Vivo to name a few.
Telos Group Commercial have been appointed as sole marketing agents so call Mustan for more details and viewing arrangement.