Situated in the blue Ribbon section of Raymond St close to all the major banks and other high profile businesses is this substantial commercial freehold which provides a rare opportunity for the astute purchaser/investor.
The property is in terrific condition throughout with the added bonus of a dual entry situation onto Raymond Street and also the carpark area off Desailly Street to the rear.
David’s Menswear is an A1 tenant in occupation with many years already on this site and a current lease in place until the 30/7/2018 at a current rental of $45,630PA Plus GST with tenant paying all outgoings.
There are annual CPI increases within each term and market reviews at each option period, with a further 2 x 3 year periods potentially taking the lease through to 2024.
The land area is 309sqm (approx.) and the building area 275sqm (approx.) and carries the prominent Commercial 1 Zone.
Given the location, size and style there would be potential to also build another level (subject to shire approval) adding to the overall value on offer.

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