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• Well maintained industrial building
• Two functional high stud workshops
• Pivotal city fringe industrial location
• Passive bottom draw investment asset
• 379sqm premises on 673sqm site (approx.)
• Annual net rental of $55,920 +GST & OPEX
This property provides a rare opportunity to purchase an affordable split risk industrial investment that is being offered to the market for the first time after some fifty years of original ownership.
The 1970’s building comprises two clear span workshops with generous stud heights and good natural light from translucent roof panels. Dual front and rear roller door access together with sealed parking to the road frontage and a small secure concrete yard space to the rear that includes a wash bay facility.
Both are similar sized tenancies of approximately 190sqm each, being leased to established tenants ABC Rentals and Tig Art Limited who recently both commenced new 3-year lease terms which provide for further tenure out to 2033 and 2035 respectively if all rights of renewal are exercised.
Situated in the tightly held Judea industrial estate where location and ease of access is paramount, this is a proven income earner that must appeal to savvy investors who recognise the potential for future rental upside underpinned by strong tenant demand in this precinct.