Mortgagee Sale - Prime Development Site with Significant Holding Income * Site area 1,955 square metres approximately on two Titles * Ideal for residential development (s.t.c.c.) * Current income $108,928 p.a. gross (approximately) * Zoned Mixed Use B * Leases to four national tenants plus residential * Located just off cosmopolitan Norwood Parade * Inspections strictly by appointment with the consultants
Expressions of Interest close on Thursday 19th September 2013 at 4.00 p.m.
Quality Fringe Investment * Current rental of $55,437 per annum approx * Securely leased until 31/8/2018 * Further term of 3 years * Rent review annually at 3%, market on renewal * Tenant pays all outgoings (exc Land Tax) * Situated on a strategic corner site of 644 square metres approx * Future development potential * Highly sought after Fringe location * Retail showroom/workshop of 423 square metres approx * Valuable rear access and car parking * Zoned Business - Beulah Road Policy Area
UNIQUE RESIDENTIAL/COMMERCIAL DEVELOPMENT OPPORTUNITY The property presents an ideal scenario for a developer to have holding income during planning and approval stages.
The existing improvements are currently leased until November 2017 with a use as a Deli. This lease provides a net rental income of $22,000 per annum* with the tenant paying all outgoings except for Land Tax.
The Charles Street Deli has been in existence in one form or another for near on 100 years and as a result the original external façade and parapet walls of the Deli is heritage listed by the council of Norwood, Payneham and St Peters.
FORMER MEDICAL CENTRE A rarely seen inner East offering, 291 The Parade, Beulah Park totals approximately 1,003sqm* of land with existing improvements reflecting 252sqm* of NLA. The property has operated as a General Medical Practice over the past 28 years and is now ready for a new operator or developer to make the most of the quality location.
The property is currently leased to IPN Medical Centres with the lease concluding on the 21st of January 2017. As the tenant is vacating the property is to be sold on a vacant possession basis.
The Beulah Park location speaks for itself however the property is locate...