This property is strategically positioned directly opposite the Drakes Foodland Supermarket in Commercial Street, offering patrons of this property substantial convenience and ease of access. It lies within the heart of the commercial center of the township, and within walking distance to numerous other hotels, cafes and notable businesses.

Kangaroo Island is well into recovery mode after recent widespread bushfires, and is attracting significant investment both public and private, into new hospitality and tourism projects, and new and replacement residential construction.

The improvements currently offer two separate tenancies contained within a single certificate of title, one being disposed as a homewares, showroom, and the other as a gym and workout areas. Both tenancies have additional yard, car parking and storage areas to the rear. They are both air conditioned.
The Homewares tenancy also covers some external storage/ yard areas. The improvements enjoy high levels of exposure, and while they are well suited to their current uses, they also offer versatility for future adaptation to alternate applications.

Gym: 408m2 approx.
Homewares: 420m2 approx.

The Leases/Assignments:

Ingrams Store Pty Ltd trading as Beaumont Tiles
Lease commencement: 1 April 2022
Lease expiry 31 March 2023
Lease renewal options: 1 + 1 years
Current rental: $28,000 pa + GST
Reviews Annually to CPI.
Rates & taxes: Lessee pays rates & taxes except state land tax.

Boobs and George Pty Ltd trading as Island Fitness
Lease expiry 31 March 2024
Lease renewal option 3 years
Current rental $26,000 pa + GST
Reviews Annually to CPI; and to market value upon lease renewal.
Rates & taxes Lessee pays rates & taxes except state land tax

Offers close on Thursday 15th September 2022, unless sold prior.

Enquiries: Tony Ricketts, Ray White, Commercial Adelaide Asset Management.
Mobile: 0418 827 9...
Email: tony.ricketts@raywhite.com