On behalf of the vendor, Luxe Commercial are proud to present to the market for sale, 5 Lutana Street in Buddina.
The Paradise Centre is located within an established retail and commercial precinct associated with nearby Mirvac Kawana Shoppingworld, approximately 8 kilometres southeast of the Maroochydore CBD and possesses exposure to the busy main arterial road Nicklin Way.
The property comprises an amalgamation of 4 separately titled allotments with a total land area of 1,969sqm and is improved with a modern two-level retail and commercial office building incorporating 12 separate tenancies ranging in size from 53sqm to 330sqm which provides a total net lettable area of 1,442sqm.
Anchored by multiple national lease profiles, the property is leased to a diverse mix of food, service, retail and commercial office tenants. The modern suburban asset also boasts inherent future development upside under its 'District Centre' zone designation which features a height overlay of up to 21 metres.
Investment Highlights:
Multi-tenanted asset providing a reduced risk profile and an impressive WALE of 3.5 years.
Net Leases include annual reviews varying from CPI - 4% with market reviews at option periods.
Modern building has been well maintained and has no obvious capital expenditure requirements.
28 car spaces located at the rear of the complex plus additional unmetered street parking.
Significant depreciation benefits and no body corporate levies providing for lower outgoings.
Strong rental growth underpinned by significant infrastructure commitment and unrivaled population growth.
Net Income: $598,197.64 pa*
Expressions of Interest closing Thursday 15 July at 4.00pm AEST (unless sold prior)
For further information and access to the detailed due diligence file please contact the exclusive marketing agent.
*approx.
Highlights:
* FUTURE DEVELOPMENT UPSIDE
* MULTI-TENANTED ASSET
* 3.2% ANNUAL INCREASES
