13/105 Scarborough Street
Sold by Team Grbcic
Tue 1 Feb
Please contact agent for further details
Adam Grbcic, Kollosche Commercial is pleased to present to the market, an entry level tenanted investment in the heart of Southport.
13/105 Scarborough Street, Southport is strategically located at the ground level of Nexus Towers.
Nexus Towers comprises 2 towers (21 and 27 levels respectively) with a mix of two and three bedroom apartments, serviced by a ground level commercial and retail precinct as well as a Church. The property also neighbours the Gold Coast TAFE, Australia Fair Shopping Centre and the Courthouse. It is walking distance to all amenities, including the Broadwater, Light Rail and a wide variety of private and public colleges and training institutions.
The Investment Opportunity offers;
- Fully fitted and tenanted convenience and take away tenancy which includes a built in cold room, walk in freezer and a variety of fittings which belong to the landlord ;
- Total Area of 112m2*;
- 3 year lease expiring 30 March 2024 (with a further 3 year options);
- Annual Reviews: CPI;
- Gross Income: $42,000 + GST.
Under the current lease, the landlord is responsible for the Council Rates and Body Corporate Levies, therefore;
Gross Income: $42,000 + GST
Council Rates: $3,885,70
Body Corporate: $10,597.86
Net Income: $27,516.44 + GST
The property has been strategically priced for a quick sale, offers over $460,000 which would represent a net return in year 1 of 5.98%.
Assuming a 70% loan and interest rate of 2.9%, the return on equity would equate to 13.17% per annum.
For more information on this opportunity, please contact Adam Grbcic from Kollosche Commercial.
Disclaimer: Whilst every effort has been made to ensure the accuracy of these, no warranty is given by the vendor or the agent as to their accuracy. Interested parties should not rely on these as representations of fact but must instead satisfy themselves by inspection or otherwise
- Close to Transport
- Close to Shops
- Close to Schools
- Disabled Access