Price Adjusted!
A substantial two storey building providing 527sqm of floor area on a prime 852sqm freehold title. Providing annual passing net income of around $93,000 when fully let. This is an opportunity ideal for self-managed super funds or general investment in one of Australia's most beautiful regional cities.
Located just off York St (Albany's main street), the property offers convenient CBD space with easier street parking directly in front. 58 Serpentine Road is surrounded by well known businesses and government institutions.
The six tenancies are anchored by longstanding ground level occupants; namely O'Keefe's Paints and H&H Architects. There are 6 dedicated parking bays behind the building and 3 along the Western side.
The original building dates back to 1960 when it was a shop with dwelling at the rear. In 1975 a major extension saw an increase in space over two levels.
Key features:
* Building area - 527sqm
* Net lettable space - 522sqm
* 6 tenancies with 4 currently let
* Harbour views from some upper level offices
* Airconditioning to all offices
* Potential for 3rd storey - extension constructed with this in mind & detailed plans available
* Provision for lift, excellent access into building front and rear
* Recent improvements include re-roofing and new box gutters, new framing and glazing to H&H shopfront
* Combination of steel and concrete framework allows for modification of internal walls
* 9 dedicated parking bays
Priced to sell at $1.2m as a Going Concern. Please contact Rob Mason for further information on 0411 615 806 or rob@masonrealty.com.au
