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Multi tenanted CBD Investment or owner occupier with on s...

412 Flinders Street, TOWNSVILLE QLD, 4810

Sold

Property Sold in 412 Flinders Street, TOWNSVILLE QLD, 4810

Listing ID:
11361769
Status:
Sold
Price:
$1,250,000
Last Updated:
24/02/2020
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Property Type

Retail/Offices
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Land Area

506 SQM
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Floor Area

544 SQM
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Parking

8

Multi tenanted CBD Investment or owner occupier with on site parking

This immaculately maintained two-story building is located in Townsville's main street, opposite the new Woolworths & City Arcade development. The Townsville CBD Super Stadium is under construction only 300 metres away and the new Townsville Bus & transport hub has been completed in Ogden Street to the rear of this property.

The ground floor tenancy of 267 sqm is leased to Mary Who bookshop which is a well known and longstanding local institution in the book world and a licensed ABC retailer.

The first-floor professional office tenancy of 277 sqm is leased to a national environmental engineering firm Alluvium. This tenancy has a high-quality fit-out including shower and changing facilities and is capable of housing up to 15 staff. A $30,000 renovation was completed for Alluvium which included a shower/change room and kitchen upgrade.

Both levels are self-contained and have access to the secure rear car park with electric gate access with room for 8 vehicles.

The property is subject to commercial leases producing a current net income of $92,444.02 per annum + GST.

There is an upside in the rental income currently being achieved for the first-floor office. A reduced rental of $130 per sqm gross was agreed to for a 2-year term whilst major works in the CBD were completed.

412-414 Flinders Street is an exceptional opportunity to enter the tightly held Townsville CBD Market with strong returns and great future potential.

Contact marketing agents Ray White Commercial to receive a copy of the information memorandum or to inspect.

For more details, please email agent


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Ray White Commercial Townsville

Suite 2, 41 Sturt Street, Townsville, QLD 4810


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