COMPELLING RETAIL INVESTMENT WITH LONGSTANDING TENANCY - YIELD 6.64% PA
Noonan Property Sydney are pleased to offer for sale Lots 191, 195, 197 and 199, Windsor on Kent, 365 Kent Street, Sydney.
This sale represents an outstanding opportunity to acquire a quality retail and commercial investment property on four separate adjoining titles in the heart of Sydney's thriving western corridor precinct near Martin Place, Barangaroo and Darling Harbour. Importantly, this property is also centrally located midway between Wynyard and Town Hall Stations, which has been one of the stimuluses for this property's ultra-successful tenancy history.
The subject properties are offered with a renewed 3+3+3 year lease to a highly successful design, print and communications business trading as ASAP Press. The business was established c1994 (29 years) and ASAP Press has occupied the properties since 2001 (22 years). This longstanding tenure is testament to the property's superb location and the benefits of being centrally located to Sydney's largest commercial developments including Darling Park, Allianz Centre and Barrack Place.
The properties are generating rental income of $255,596.40 per annum + GST and the tenant also pays strata levies (excl. sinking fund or special levy contributions), council rates and water rates on the behalf of the owner. The lease also incorporates 4% annual rental increases, a Personal Guarantee and a Bank Guarantee equal to 3M rental ($63.899.10) that reinforces the strength of the tenancy.
The properties feature prime ground floor positioning with a direct entranceway frontage to Kent Street and internally the properties are spread across four adjoining titles comprising 338 sqm including a security car space and storage area. The premises are well presented with a functional fitout incorporating office space and large open spaces with high ceilings to accommodate the tenant's machinery and equipment along with internal bathroom and kitchen amenities.
The Windsor on Kent building at 365 Kent Street, Sydney is a 28-storey building comprising 347 residential apartments, 3 retail units, 2 commercial units and basement car parking. The building features a stylish main lobby area along with resort style facilities including a pool, spa, gym, golf range and a spacious BBQ terrace with city skyline views.
This quality retail and commercial property is an compelling investment opportunity and we look forward to servicing your enquiries.
Tim Noonan Phone 0416 286 129 Email email@example.com