94 Kitchener Rd Ascot QLD 4007
- 1,973 m²
- Expressions of Interest
Premium Retail Investment Underpinned by Exceptional Land Value
- Net Income of $397,109* per annum
MDM Group is excited to present 94 Kitchener Road (Ascot) for sale.
This property represents an exceptionally rare opportunity to acquire a prime metropolitan retail centre anchored by a new 15 year lease to one of Australia's strongest retailers, 7Eleven, that is located in arguably Brisbane's most affluent suburb of Ascot.
SECURE ANNUAL NET INCOME:
- The property provides an annual net income of $397,109*
'A' GRADE TENANT COVENANTS:
- The centre is securely anchored by a lease to 7Eleven until 27th July 2031 with a further 3 option terms of 7, 5 and 5 years respectively. 7Eleven is supported by 2 long term and secure leases to Swimart Pool Supplies (5.3 years) and Ascot Automotive (10 years).
RARE INNER-CITY LOCATION WITH UNDERLYING CAPITAL VALUE & FUTURE DEVELOPMENT POTENTIAL:
- Unlike many service stations that are transacting in the current market the value of this property is not only underpinned by the ‘A’ grade tenant covenants but most importantly by the rare opportunity to acquire a 1,973 m2 parcel of land in the sought after suburb of Ascot.
ATTRACTIVE WEIGHTED AVERAGE LEASE EXPIRY
- Thanks to the long term leases in place, in particular the 15 year initial commitment to 7Eleven, this property has an exceptionally secure Weighted Average Lease Expiry (W.A.L.E) of 11.28 years by income.
INCOME SECURITY AND RENTAL GROWTH:
- The property represents a secure, high growth investment that incorporates favourable net lease structures with all tenants to eliminate exposure to increases in the property’s outgoings. Both 7Eleven and Swimart include fixed annual rental increases to ensure income and capital growth into the future.
IDEAL ENVIRONMENT AND DECONTAMINATION CLAUSES
- 7Eleven are required to remediate the site if they were to vacate to the baseline level outlined in the initial ESA report commissioned prior to their lease commencement. Of added benefit to the landlord 7Eleven own and are required to maintain the tanks and fuel lines at their own cost for the entirety of their lease.
ATTRACTIVE DEPRECIATION BENEFITS
- Constructed in 2016 with the latest fuel storage and construction technology including double skinned fibreglass underground storage tanks and brand new pumps and lines this centre provides excellent depreciation benefits for the incoming landlord.
MDM Group encourages your participation in the sale process of one of the best retail acquisitions in inner-city Brisbane in 2019.
For more information please contact Michael Maguire on 0412 738 538.
EXPRESSION OF INTEREST
|Closing date and time||04/04/2019 23:59|
|Recipient name||Ask Agent|
|Delivery address||Ask Agent|
|Floor Area||1,973 m²|
|Land Area||1,973 m²|
|Parking||On site parking available|
|Building Type||Whole building|
|Annual Return||Ask Agent|
|Last updated||22 Feb 2019|