Government Tenant- $400,000 PA net income - tenant for 17 years
This is a rare opportunity to acquire a substantial investment asset located in the Armadale City Centre (Strategic Regional Centre).
The property(s) are leased to THE COMMONWEALTH OF AUSTRALIA as follows
Lease Term: 5 years expiring 19/2/2023
Option: 5 years to 19/2/2028
Rent Reviews: 3.5% fixed increases annually even on commencement of option
Current rent: $400,000 per annum + GST
Outgoings : Payable by tenant
The property(s) are in close proximity to both major shopping centres and both rail and bus transport stations. Both properties are leased concurrently to the Commonwealth of Australia represented by the Department of Human Services.
These modern style buildings were purpose built for the department of Human Services in 2001 (42 William Street) and a further new building in 2006 (40 William Street).
There is nearly 1200m2 of concrete building with iron roof that is predominately fitted out as an open plan office with toilet and kitchen facilities in both buildings. The buildings have a quality fitout set to federal government standards.
For more information call Mike Dunsmore on 0413 754 110
