Opportunity here for the astute Investor. This property is a fantastic, reliable & well performing Commercial Rental Investment located in the heart of Ararat's busy CBD. Investors can have confidence investing in this great Retail Commercial property due to a successful tenant business trading for the last 3 years and recently renewed their lease for a further 3 year term with an extra 2 x 3 year options and a 3.5% rent increase pending.
Features worth considering are: Location: Fantastic, close to Westpac & ANZ banks, Post Office, Cafes & Restaurants. Rent: $20,000 (increasing to $20,700 in October 2018). Return: 8-8.5% yield approx. Term: Tenant renewed for further 3 years. Options: 3 + 3 extra years. Reviews: To market & CPI annually during term. Building: Solid & Sound Brick building around 238 sq.m. approx. comprising large retail showroom area, 4-5 offices, Boardroom, Data & archive storage utility rooms, Service/Plant room, M&F toilets, Staff room & kitchenette, access from rear laneway. Flexibility for Retail, Offices, or Service Industry so would suit many uses. This property has been well held by the current owner for a long period and now is a perfect time to capitalise on Ararat's growth. Invest Now. Enquiries strictly with appointed Agents.
Get in touch with our team at First National Real Estate Ararat