To enquire, please email or call 1300 815 051 and enter code 4290
Prime Investment or future development opportunity 1,903sqm.
The subject property is a high profile corner site situated on the very busy Queen Elizabeth Drive with passing traffic in excess of 20,000 vehicles per day. The property is strategically positioned only 900 metres North of the Rockhampton CBD and is surrounded by high profile occupiers including Woolworths, Target, JB Hi-Fi, McDonald's, KFC, Hungry Jack's and Red Rooster. Berserker is a suburb in the fast growing area of North Rockhampton. As the service capital of Central Queensland, Rockhampton is a diverse and thriving $5.12 billion economy with a population of 85,000 people & globally recognised as the 'Beef Capital of Australia' and has a thriving commercial and business centre surrounded by significant mining and rural industries. Proposed investment spans broad Community projects, from Education and Tourism, to the much publicised Coal, Energy, Minerals, Ports, Rail, Water investments.
The property is currently leased to a national company. The current net rent is $84,064.22 per annum plus GST and 100% of all outgoings are paid by the Tenant which represents a net return of 6.5%. The lease expires on 31 August 2025 but I am also open to re-leasing the property.
The property also offers future potential for re-development of various retail, commercial or outdoor sales uses under the current zoning, subject to council approval. The property had previous council approval for development as retail shops (inc Gloria Jeans Coffee) in 2016. See Link at https://www.couriermail.com.au/news/queensland/rockhampton/exclusive-gloria-jeans-drivethru-to-create-30-jobs/news-story/73f8f8ed2fc159d207a1ae59b1e7b039 Approved development application documents are available on request.
The property comprises 3 separately titled allotments. Improvements are a small sales office, kitchen, and toilet comprising approximately 44m² and storage sheds. The property is not in a flood zone and has been occupied by car sales dealers for over 50 years and is currently leased as a car sales outlet.
By way of price comparison 43 Queen Elizabeth Drive (PUMA Service Station next door) sold for $4,750,000 in March 2018 with 170sqm less land area.
Please note: The Sale will be GST Free if the property is settled prior to 31 August 2025. After that the price will be plus GST which can be claimed back the month following settlement. The GST payable may be reduced significantly through the use of the GST Margin Scheme https://www.ato.gov.au/businesses-and-organisations/gst-excise-and-indirect-taxes/gst/in-detail/your-industry/property/gst-and-the-margin-scheme/methods-to-calculate-the-margin#considerationmethod
To enquire, please email or call 1300 815 051 and enter code 4290
