Wizard Pharmacy, 203-205 Hannan Street
Kalgoorlie, WA 6430
$3,300,000 + GST (If applicable)
Map of Wizard Pharmacy, 203-205 Hannan Street
Long term investment in Central Kalgoorlie.
- Leased to a substantial Pharmacy chain to 30/06/28, plus small adjacent shop leased for 3 years to 31/08/21.
- Annual income of $256,576 from 1/07/20 for the pharmacy, plus $30,000 for the small shop at 203. The Pharmacy rent to 30/06/20 is discounted by $5345 pm as an incentive for new 10 year Lease signed.
- Record low interest rates and the official rate now 1.25%.
- The City of Kalgoorlie Boulder is destined to enter a new growth phase with the re-emergence of nickel mining. This is supported by the decision by BHP to withdraw Nickel West from sale, the Mincor / Nickel West off take agreement which will see the Kambalda Concentrator recommence ore treatment and Mincor and others preparing to reopen a number of mines in the Kambalda and Ravensthorpe areas.
- The emergence of Lithium mining, which comes with long term prospects as the EV and PV roof power systems and their associated batteries are a long term growth market.
- Lynas Corporation's recent announcement that they have budgeted $500,000,000 to build a new concentrator to overcome licensing problems in Malaysia. The new plant is expected to be placed at either their Mt Weld mine site or in Kalgoorlie Boulder, either way its good news for the City.
- The Productivity Commission is conducting an enquiry into FBT and other tax incentives, or disincentives as the case may be, that encourages FIFO over local residential based employment. FIFO has been limiting the City's population growth but this is now being tackled head on with mining companies stating that their workforce must reside locally.
- Hannan St changes. Dome has just reopened after being closed for renovations for over two years. This will have a big impact on foot traffic outside the property. The physical restructuring of Hannan St is now agreed and will occur progressively.
- The building itself is in excellent condition with no big ticket maintenance requirements on the horizon.
- The property is being placed on the market for $3,300,000 as a going concern so no GST. A return on the investment 8.5% after allowing for the second year of rental discount.
This is an attractive offer with a strong tenant with 9 years to run on the main lease.
For more information or to view the property please contact Professionals Platinum.
Property ID: 503228870Last Updated: 3 Dec 2019