Under instructions from Tony Miskiewicz and Jennifer Nettleton of KordaMentha (as Agents for the Mortgagee in Possession), Colliers (Marketing Agents) is pleased to offer for sale the property located at 60-66 Denham Street, Townsville QLD (Lot 2 on RP701653).
60-66 Denham Street offers a rare opportunity to purchase a freehold investment property located in the core of Townsville's CBD.
The 311m²* site is improved with a 414m²* two story office building with street exposure to high volumes of passing traffic. Known as Denham Chambers, the building was originally constructed in circa 1900 as a surveyor's office. The property is registered on Townsville City Council's local heritage register and forms part of the Townsville CBD Civic Pride Trail.
The property is leased to a well-regarded local legal firm who have been established since 1975. The 5 year lease commenced on 16 August 2020 and contains 2 x 5 year options. The gross rental is $86,930.80 pa (excluding GST). Recent improvements have been made to the building including a refurbished roof and internal repainting. Numerous other items of maintenance and general repairs have recently been completed as described in the Variation and Extension of lease (dated 18 December 2020).
The property is in a central and sought-after location in Townsville's CBD which has been revitalised off the back of numerous recent investments, including the $300 million 25,000 seat Qld Country Bank Stadium which has been the catalyst for the transformation of Townsville's landscape.
The property is For Sale by Expressions of Interest closing 4pm on Thursday 24 June 2021.
For further information or to arrange an inspection, please contact Todd Walsh at Colliers.
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