* An investment this good will not last long.
* Property offered for sale subject to the balance of existing lease.
* The property has direct street frontage and is well positioned just at the entry to Port Central Shopping Centre (southern entry) - Port's premier shopping centre, with anchor tenants including Target, IGA, a large food court and 50 specialty shops.
* The property offers excellent exposure and as such, the current business has been in occupancy for the majority of its business life, the business was established in 2002
* Shop has an internal area 108 sqm approx with two (2) car park spaces and basement storeroom on title.
* Features ducted air conditioning, suspended ceiling grid, two internal toilets, kitchenette sink, new floor coverings.
* The two (2) car spaces are located in a security basement with 24 hr access.
* Current five (5) year lease that commenced August 2016.
* Bank Guarantee security in place.
* Current Passing Rental $47,120.04 PA GST Exc as of 01/08/19 approx.
* CPI increase annually.
* Outgoings;
1. Council Rates: $3,085.05 PA
2. Strata Levies: $8,000.00 PA
3. Water charges: Payable by Lessee
4. Air conditioning services: Payable by Lessee
Total: $11,085.00 PA approx
* Nett Income $36,035.04 PA GST Exc approx.
* Ground floor location with disabled access and access to disabled w/c.
* Excellent rental history, managed by our office since 2004.
* Well managed strata building with strata managers also owning with in the complex which ahs to give you confidence of good management
* The Colonial Arcade comprises of 15 separately owned ground floor shops offering a variety of retail, food and office service providers, plus 8 First floor office tenancies
* Port Macquarie Hastings area has a resident population of 80,261 people. The population is forecast to grow by over 28% to 102,926 by 2036.
* We have obtained all information in this document from sources we believe to be reliable; however, we cannot guarantee its accuracy. Prospective purchasers are advised to carry out their own investigations.
* Call Raine & Horne Commercial
Shop 3, 136 William Street, Port Macquarie
T: 02 6584 0544
