### UNDER OFFER ###
$1,950,000 (NIL GST) LEASED INVESTMENT
This is a brilliant opportunity to purchase premises in one of the busiest parts of Osborne Park. Located amongst major retailers and car sales and service centres, not to mention the multitude of other retailers and service providers that seek space in this vicinity. This is a blue chip, near capital city commercial / industrial Precinct.
The complex faces Scarborough Beach Road near Hutton Street. Successful retailers occupy the front section of the complex. The location provides prime connectivity to the Mitchell Freeway, North and South. The complex itself has dual entry/exit from Scarborough Beach Road with access across the front and down either side. The property is located behind the front retailers making it desirable for businesses on Scarborough Beach Road to lease warehousing at lower off main road rental rates while still in close proximity to support their shopfront.
The property falls under the City of Stirling Local Planning Scheme No. 3 and is Zoned Development within Herdsman-Glendalough Special Control Area.
Unit 6 has a 926m2 strata footprint. It is a brick and metal Showroom/Office/Warehouse and currently being used as a service centre and parts storage. The premises are divided by an internal brick wall into front and rear sections. The front section is approximately 276m2 containing a 71m2 ground floor showroom/office plus 105m2 first floor office in addition to the strata size. The remaining 205m2 is used as warehouse. There is an elevator to the first floor.
The rear section of the property is approximately 650m2 and is used for servicing vehicles with three 4.3 metre high roller doors and ten vehicle hoists. The internal height of warehouse component runs 5.48 to 6.17 metres from front to rear. The rear of the complex boasts 150 central common usage car bays.
Janetto Holdings Pty Ltd is a major national tenant and was founded in 1973. The company's line of business includes the retail sale of new and used automotive vehicles and the head office is located in Newstead, Queensland. It has an estimated 4,342 total employees across all of its locations and generates USD$6.37 billion in sales. There are 194 companies in the Janetto Holdings Pty Ltd corporate family.
Osborne Park Volkswagen located next door at 435 Scarborough Beach Road utilises the property for service and parts storage. This award winning dealership opened in 2004 and is Perth's number 1 Volkswagen retailer.
Commenced 30 June 2014 with the current term expiring 30 June 2024 with another 5 year option.
The tenant currently has the right to give 12 months notice to end lease giving plenty of time to re-lease. This is a desirable property to Lease as demonstrated by the long lease history of the current Lessee. .
The current Net Rental is $115,581.98 per annum
Rent Reviews are 4% annually except Market Reviews 1 July 2022, 2025 & 2028
Johnson Property Group Pty Ltd manages the property on behalf of the owners.
Asking Price: $1,950,000 Nil GST (Sold as Going Concern)
For further information or arrange an inspection, contact Johnson Property Group
