(S)/206 Oxley Highway Port Macquarie NSW 2444

* Located minutes' drive to the CBD on a Main entry road
* Large land area of 2,023 sqm approx. - level with great street frontage
* Zoned R1 General Residential with Existing use rights for the Vet Clinic
* Constructed upon the land is the main commercial building offering a total lettable area of 158 sqm approx. plus a 60 sqm approx. double garage under long lease to established Vet Clinic. An Additional free-standing residence, separate from the Vet Clinic, is a generously proportioned 4 bedroom that features a second living area and yard area (requiring some refurbishments works)
* Major income tenant (trading as Dr Paws) has a NEW long 3 X 5-year term commencing 1.1.20 that potentially extends to 2035 = Stable income stream for years to come
* The vet operation is lease to NVC Operations NSW Pty Ltd, who typically partners with established independent veterinary practices to leverage supplier arrangements, business coaching, marketing and practice management programs. NVC is a leading veterinary care provider in Australia and New Zealand, with over 100 locations across Australia and New Zealand.
* High set up cost by Lessee in recently refurbished and extended building
* The residence offered with Vacant Possession
* Onsite parking for staff and customers plus easy street parking
* Security of dual income streams
* Easily managed investment opportunity
* Lease contains annual rental increases ensuring rental growth.
* Vet occupancy well established in this location for well over 20 years and supported by locals
* Current income: $63,999.60 (vet) (plus recoverable outgoings %) + potential $25,500.00 PA (residence) = $89,499.60 PA GST Ex
* Nett Income after allowing for Council rates and building insurances, plus add back recoverable outgoings estimated at circa $86,000.00 PA GST Ex approx. (when residence leased)
* Estimated 7% nett return on asking price
* Ideal for future Residential Development (STCA) with location opposite a primary and high school, close to town and surrounded by residential villa development. ;
* We have obtained all information from sources we believe to be reliable; however, we cannot guarantee its accuracy. Prospective purchasers are advised to carry out their own investigations.
* Contact Raine & Horne Commercial for more information or to arrange an inspection.
ph: 6584 0544