This attractive Multi Story, Inner City, Landmark Commercial Office Building is offered For Sale at an attractive rate of return of 9.25%. The property is very well located in the Central Business District of Bundaberg City being in close proximity to the CBD, Post Office, Courthouse and Banks.
The building is in a flood free location with northerly views over the Burnett River and high exposure to Quay St, a major city thoroughfare. These natural assets together with its amenity to the CBD and ample street parking ensure a high occupancy rate. The building locally known as the WIN TOWER is currently tenanted by a number of long term, Corporate Tenants such as WIN TV and Legal Aid Queensland. Other quality tenants with good long leases include the Aboriginal and Torres Straight Islander Legal Aid Service, Fisher Dore Solicitors and Parliamentary Services. The Local State Member has held an office in the building for many years and it has been home to many MP's over the years. The building has 15 tenancies and is home to a number of Law Firms.
The overall condition of the building is excellent with some major upgrades having taken place over the last couple of years. The Lift has just had a new motor, controller and car modernization implemented. The ground floor veranda roof has just been replaced and the fourth floor veranda blinds have also been replaced. The entirety of the third floor occupied by Legal Aid Queensland has undergone a complete refit and is serviced by a new tenancy specific air conditioning system. The Ground floor tenancies have all had new split system air conditioners installed 2018. Floors One and Two are supplied by a main system that has had a new compressor and evaporator installed only a few years ago.
There is only one small vacancy in the building at present and this will be filled very soon. Rare opportunity to buy a quality, blue chip commercial property at an 8.5% net return on investment.
