We are pleased to offer for sale this high quality commercial premises subject to a long term lease to a highly regarded organisation, the Multiple Sclerosis Society of Western Australia (MSWA).
The property is located in the Vasse Business Park which is experiencing rapid growth underpinned by an increasing population within the immediately surrounding Vasse townsite. Vasse is proposed to have 7,500 dwellings within the masterplan. This property is located conveniently between Busselton and Dunsborough and en-route to Margaret River. With further population growth within the region and expansion of the tourism industry including interstate flights from the Busselton airport, this region is poised for sustained growth.
The near new premises has council approval as a medical centre and has been fitted out to a high standard in 2019.
Key features:
- Near new building with a Net Lettable Area of approximately 372 sqm including boardroom, consultation offices, therapy rooms, gymnasium, open plan workstation areas, treatment rooms, full bathroom facilities with shower, kitchen and staff lunchroom,
- Term: 5 Years from May 2019 with two further 3 year options,
- Depreciation benefits available through the write down of the building and office fit-out,
- Commencing Gross Rent: (Plus GST) $85,000 per annum,
- Rent Reviews: Annually to a fixed 3% increase with a market review at option,
- Average Gross Rent over the initial lease term is $90,225 per annum (Plus GST),
- Outgoings: Council Rates $18,048 pa, Water Rates $1458 pa, Insurance $1092 pa,
- Lease term average net return: 6.3% Current net return: 5.85%
- The building is provided with ducted reverse cycle air conditioning through-out,
- Large security bond held.
Long term leased investment properties similar to the subject are rarely offered for sale in this region. Please contact Matt Snaddon on 0488 280 020 to discuss this property further.
