DEVELOPMENT SITE WITH HOLDING INCOME
Prime future development site with existing commercial lease in place providing a useful holding income stream whilst plans and approvals can be secured for a longer term development. Occupying a highly visible corner position opposite Dan Murphys and the newly redeveloped Mount Barker Village shopping centre, the site is set to be a desirable business location for many years to come.
Currently leased to a small group of allied health practitioners, the building of approx. 96 sq.m is professionally presented internally, plus has the benefit of generous on-site parking provision for staff and customers. The accommodation is configured as a large reception area plus 4 offices, and a store room. Features include ducted air conditioning, carpeted throughout, x2 W/Cs (one with shower), store/print room plus large garage and adjoining shed.
The current lease provides a basic level of rental income, and whilst not at a level that will interest investors simply looking to hold the site as is long term, it will assist with covering holding costs for a developer purchaser. The current lease expires 11-Jan-20 and thereafter a 1+2+2 year lease is proposed, subject to redevelopment clauses. Outgoings are additionally on-charged.
The site extends to approximately 773 sqm. It is fairly level and features two driveway entrances.
Frontage to Hutchinson Street is approx. 30m. Frontage to Victoria Crescent is approximately 20m
Zoned Regional Town Centre, Policy Area 5 Business & Retail Core. Further information can be obtained from Mount Barker District Council.
The site is held on a Torrens Title.
Offered for sale for $700,000 (plus GST if applicable at the time of sale).
For further information, or to arrange an inspection, please contact Commercial Property and Business Sales specialists, VENTURE COMMERCIAL RLA 251076:
Nigel Grivell 0414 257 999
Harry Sanders 0431 057 346
