Auction Location: Gold coast Art Centre.

PROMINENT CORNER CBD POSITION WITH THREE FRONTAGES

The NAB building on the corners of Griffith, Warner, and Chalk Streets in Queensland beachfront suburb of Coolangatta, could represent a great rental uplift, based on other leased bank assets in the same street.

This opportunity is well known as one of the strongest corner positions in this CBD location.

Subject to obtaining Council and Authority approvals, an opportunity may exist to redevelop or build up, on this single level building, as it would capture ocean views once height was gained.

There are two tenants under separate leases, with the major being the National Australia Bank (NAB), representing 78% of the building area. The NAB is estimated to have an $88 billion market capital valuation.

The second tenant is a well established local Therapeutic Health Facility.

A snapshot of the offering, sees the following combined Building and Lease covenants:

- Current Net income: $233,000 per annum
- Lease Term: 5 years plus options
- Building Lettable Area: 433 square metres
- Average Rate per m2: $538 psm – approximately
- Tenants Outgoings: 100% collected - (excluding part management and Land Tax)
- Zoning: Coolangatta LAP
- Residential Density: RD6

Coolangatta is a CBD Beachfront suburb of the Gold Coast and is approximately 2 kilometres to the Gold Coasts International Airport and 20 minutes' drive to the Star Casino in Broadbeach.

This prime freehold single level tri-corner CBD building is being offered by Public Auction, subject to the current leases, on the 26th of May 2021.

The Seller is committed and will meet the market on Auction day.

Inspections by appointment only

PUBLIC AUCTION
Date: 26th May 2021
Place: Gold Coast Arts Centre, Bundall
Time: 5 pm (EST)

Exclusive Marketing Agent
Jamie Bourke 0417 077 277
Email: jbourke@bourkeqld.com.au
BOURKE Commercial, Queensland

Disclaimer: BOURKE Commercial has not independently checked any of the information we merely pass on. We make no comment on and give no warranty as to the accuracy of the information contained in this document which does not constitute all or any part of any offer or contract by the recipient. Prospective purchasers / lessees must rely on their own enquiries and should satisfy themselves as to the truth or accuracy of all information given by their own inspections, searches, inquiries, advices or as is otherwise necessary. No duty of care is assumed by Limited Interest Pty Ltd ATF FNC Trust t/a BOURKE Commercial toward the recipient with regard to the use of this information and all information given is given without responsibility.