4 Plaza Street, SOUTH BUNBURY WA 6230
$899,000 Going Concern
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- 22 Dec 2016
Plan for the future with benefits today!
- Current return of 7.33% (see below);
- 295 sqm office development;
- Designed for single or dual tenancies;
- Survey strata site of 597 sqm;
- Located opposite Bunbury Plaza redevelopment;
- Good parking on-site.
Located directly behind the well known Civic Video building a little over 1 km south of the Bunbury Post Office ..... 4 Plaza Street, South Bunbury offers all the conveniences of the CBD without the parking hassles.
Add to this the Bunbury Plaza redevelopment (currently underway), located some 50 m away, its no wonder our Mayor Gary Brennan has labelled this area as potentially becoming Bunbury's version of Mount Lawley's Beaufort Street.
This immaculately presented office totaling approximately 295sqm was architecturally designed to be utilised as either a single or dual tenancy, with:
Tenancy 1 totaling approximately 170sqm comprising a reception / foyer, eight (8) offices, boardroom & storeroom;
Tenancy 2 totaling approximately 95sqm comprising a reception / foyer, four (4) offices, staffroom & storeroom;
Common Area totaling approximately 30 sqm comprising kitchen, two (2) disabled toilets and shower;
Parking for six (6) cars including a disabled bay plus street side parking accommodating potentially an additional 6 plus car spaces.
Tenancy 1 is currently leased until mid-2018 (representing approx. 64% of property size) with smaller Tenancy 2 recently leased until late-2017.
This shows a current yield on asking price at approx. 7.33%.
With the cash rate at historical lows, returns of this nature under $1M in the current market are rare !
This property presents smart buying for the investor, given the return, length of lease and location opposite the Bunbury Plaza redevelopment. On the other hand, those looking to occupy the premise themselves, then mid to late 2018 is your chance, with the benefits of enjoying a healthy return in the meantime.
Priced at $899,000 Going Concern.
Geoff Hill : 0408 002 211
1 Bligh street, SydneyGrade A
Building AmenitiesAvg. rent (net):$800 - $1000Avg. outgoings:$162Vacancy rate:13.5%Data from Colliers Edge.For information click hereMajor TenantsNabers energyAdditional information
4 Plaza Street SOUTH BUNBURY