Sandgate NSW 2304

This industrial building is situated at Sandgate in an industrial zoned area near the Newcastle Produce/Fruit/Vegetable Markets and is connected to all services (not gas).
Brick construction with metal roof and split up into 4 units. The building is Torrens Title and is approximately 1132 square meters on approximately 1838 square meter block.
All tenants on current leases with the building enjoying a low vacancy over many years of management by this office.
Financial returns
Rent $85,100 P/A
Less
Outgoings $13,000

Net Income $72,000 P/A

Return on Investment 9.2% with annual rent increases.

This building has been painted externally in the last 12 months with repairs having been attended to on a regular basis.

Subject to NCC approval this building may be turned into 4 Strata Title units.