164-166 Charters Towers Road Hermit Park QLD 4812

The Casa Bianca Arcade has recently undergone full ground floor renovation and offers the opportunity to further develop the first floor residential units and or the surplus land to the rear of the property facing Carr Street.

The 2,087m2 block is ideally located on the corner of Charters Towers Road and Carr Street offering fantastic exposure to passing traffic.

The property features 5 fully leased commercial tenancies ranging from 80m2 to 100m2. Offering a total of 6 bedrooms the first floor units may be further developed either into smaller residences or commercial offices allowing for multiple income streams.

The building has great potential for a developer or owner occupier that can further develop the site to maximise the income streams and or to reconfigure to suit their own requirements.

The property features:

- Gross income of $115,000 p.a. + GST (approx)
- Rates & Insurance are approximately $29,072 p.a. + GST
- Gross floor area of 1,038m2, including 4 secure garage spots. (approx)
- Net lettable area of 953m2.(approx)
- 5 fully leased ground floor commercial tenancies.
- Great arterial road exposure & advertising potential and easy access via Carr Street
- Large on site car park allowing for 18 open parks and 4 secure undercover
- Two first floor apartments, comprising of a 4 bedroom unit and a 2 bedroom unit.
- Both apartments can have 12 month leases in place from settlement date

There is also the opportunity to subdivide or to further develop (STCA) 790m2 of excess land (under the same title as the rest of the complex) located at the rear of the property.

For further information or to arrange an inspection please contact exclusive agents at Ray White Commercial Townsville.