JLL is pleased to present 395 Glen Osmond Road, Glen Osmond for sale by Public Auction on Tuesday 12 July 2022 a securely leased investment with future development upside.
Strategically located on the city outbound side of Glen Osmond Road on a corner site with two street frontages. Glen Osmond Road is one of Adelaide's busiest main roads with an estimated 27,000** vehicles passing by daily providing excellent exposure.
The property is provided direct access from Glen Osmond Road together with two additional access points from Chapel Street, providing easy vehicular access.
The improvements on the site are currently utilised as a hand car wash. The property is securely leased to a long term tenant at a current rent of $63,740* per annum net on a 5 + 5 year lease with expiry in November 2031 (including renewal). The rent is increased annually by 3.0% and reviewed to market in 2026.
The property presents as a passive investment with the tenant responsible for payment of all outgoings apart from land tax.
We strongly recommend your consideration of this 'set and forget' securely leased investment with development upside (stnc).
Opportune time for an astute investor to capitalise on no stamp duty applicable on commercial transactions and acquire an affordable investment with fixed rent increases in a tightly held commercial location.
We highlight the key property features below:
· Corner site with dual street frontages in a well regarded suburb
· Fully leased with a net income of $63,740* per annum
· Long term lease to a long standing tenant with fixed annual increase
· Future development upside
· High profile main road location
The property is offered for sale by Public Auction on Tuesday 12 July 2022 at 11am.
For more information or to arrange an inspection, please contact exclusive selling agent JLL.
*Approx
** Department of Planning, Transport and Infrastructure
