141 Paterson Street Tennant Creek NT 0860

Phone enquiry code for this property: 2101

This secure investment property at 141 Paterson Street, Tennant Creek NT is leased to essential service providers offering a steady income stream. The property is situated on the main street of the town and is fully leased, offering investors a high rate of return in excess of 9.5%.

Tennant Creek is the major service centre for the Barkly Region, and is located on the Stuart Highway 500 kilometres north of Alice Springs and 1,000 kilometres south of Darwin. The property has a main street location surrounded by supporting retail uses.

141 Paterson Street is a single building which has been split into two ground floor tenancies; one fitted out as a bank and leased to ANZ Banking Corporation; and the other utilised as professional offices and leased to an NDIS funded multidisciplinary practice, providing Speech Pathology; Occupational Therapy; and Physiotherapy.

The ANZ occupy approximately 256 sqm of the building and have been based at the property for well over 40 years. The current lease was renewed in 2019 and expires 12 October 2021.
The professional offices of approximately 106 sqm are under a new 3 year lease which expires in April 2023 with options till 2029.

The current passing income to the property is as follows:
Total Gross Rent: $86,984
Outgoings: $14,908
Net Income*: $72,076.

Reduced for a quick sale to an asking price of $740,000.

(* Approximately)

Inspections are strictly by appointment only. Contact for further information.

Phone enquiry code for this property: 2101