(S)/88 Horton Street Port Macquarie NSW 2444

* Deceased Estate - Must be sold.
* Main street location in the prime retail strip.
* Freehold title with land area of 225 sqm approx
* This address has been the location for a Newsagency since circa 1900's - Port's original Newsagency
* Building comprises 207.1 sqm approx. of grounds floor retail + a further 195 sqm approx. of level 1 office/storage
* Despite the old-world look, the building was reconstructed in the early 1990's due to fire damage and so is really only 30 years old approx. and may still hold some depreciation benefits
* Loads of street parking close by
* Wide frontage
* The lessee owns the air conditioning.
* The rental currently is circa $110,000 PA plus GST approx, plus lessee pays 100% Council Rates ($18, 027.48 PA), water usage charges and land tax (not applicable on single Holding)
* Lessor pays building insurances which are $4,088.00 PA Approx
* Nett income circa $106,500.00 PA after expenses
* Long ongoing lease arrangements of 5 year commenced May 2017 + 5 year option lease until 2027
* Established newsagency business - A staple to the community and could be considered as good as a "blue chip tenant". Current business is more than a newsagency - selling lottery, papers and stationary plus also carries the large range of souvenirs, giftware and items for all special occasions.
* Easily managed single tenant
* Strong NSW growth region underpinned by high level tourism and lifestyle driven population growth.
* Located close to major banks, Optus phone store and a major shopping centre comprising Target, IGA and 50 specialty stores.
* Rare opportunity to invest in an A grade location in a tightly held strip in one of NSW fastest growing regional areas
* Purchase arguably one of the best locations in CBD of Port Macquarie
* 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.
* Sold subject to existing lease, Business not part of property sale
* Contact Luke Horton - 0417 406 414
Raine & Horne Commercial
Shop 3, 136 William Street, Port Macquarie
T : 02 6584 0544