1/1048 Rockingham Road, WATTLEUP WA 6166
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- 6 Apr 2017
***SOLD*** FOR SALE - 10 MILE TAVERN
**Note - Property only for sale not the Business.
Property: The Ten Mile Tavern is located to the front of this small 5 strata lot development in the locality of Wattleup 43 metres South of Rockingham Road & Wattleup Road. The premises is approximately 39 years old and consists of lounge bar, bottle shop, kitchen, male & female facilities and storage.
Lot size: 227sqm
Tenancy Details: Dorsan Investments Pty Ltd
Please note this tenant has been the business operator since August 1999.
Lease: There is a new lease in place commencing on the 1st of May 2016. The term is 14 years with two 5 year optional periods. A copy of the formal lease is available for perusal by appointment with Chris Farris a the Office of Ron Farris Real Estate Pty Ltd.
Rental: Current Rental - $93,000.00 per annum plus variable outgoings plus GST
Rent Reviews: 3% of the net rental annually.
Price: $1,250,000 (Zero GST)
This property represents a solid investment opportunity with a long term lease. No local competition to the tavern, long term operator, license to operate a tavern stays with the property. The value of this license is difficult to quantify given the tavern is surrounded by the huge commercial precinct Latitude 32 which is 1400 hectare major industrial development zone being developed by Land Corp. This development is to be known as the Western Trade Coast and it is highly likely that Latitude 32 will become the major employment area for the South West corridor over the next 10 or 20 years. This will be highly beneficial to this property.
Ron Farris Real Estate Pty Ltd recommend that any serious purchaser investigate this development as looking forward it can only help your investment.
For Further Details Contact
0413 945 667
1 Bligh street, SydneyGrade A
Building AmenitiesAvg. rent (net):$800 - $1000Avg. outgoings:$162Vacancy rate:13.5%Data from Colliers Edge.For information click hereMajor TenantsNabers energyAdditional information
1/1048 Rockingham Road WATTLEUP