In an outstanding, high exposure position on Spreyton's Mersey Main Road, this fully leased property presents astute investors with the opportunity to secure two tenancies, future proofed by its position and potential over dual Titles.
Two tenants occupy the site, being Goochie Poochie dog grooming, who have just extended their lease for an additional 3-year term, and the other as Devonport Truck Rentals, a vehicle hire company having operated along the coast for a number of years, expanding into this site in 2022 also on a 3-year term.
With a land area spanning 1,369sqm across two Titles, and total building area approx. 221sqm, the site is sealed and offers unrivaled frontage in the area, perfect for the current tenant's secure yard and parking, also allowing for a diverse range of development projects in future (STCA) courtesy of its 'Local Business' zoning.
The site is neighboured by the popular Bottle-O bottle shop and busy Spreyton bakery, and is well situated between the Devonport Country Club and IGA supermarket.
Spreyton is within a few minutes to the major population centre of Devonport, and Latrobe in the opposite direction.
Total net rental income after outgoings of approximately $35,803 p.a, offering a net return of 6.2% on list price, with both tenancies having annual increases scheduled.
Listed at $575,000, this presents an excellent opportunity for those new to the commercial investment market, and also for those seeking to add an asset to their existing portfolio.
Contact Colin Rowlands at Halliwell Property Agents for all enquiries.
