The property recently received a major upgrade, completed in 2014/15 with more than $1m spent including all new plant and equipment throughout.

Consisting of four fully leased tenancies totalling 1,422 m² including a small 120 m² storage component. The quality mix of tenants – State of Qld, Snap Fitness, Groves & Clark Solicitors and Community Training Australia – all on new leases with a total net rental of $352,856.32, ensures a strong rental return with a weighted average lease expiry of 4.25 years.

The property features an abundance of on-site parking with 44 car parks in total, including 8 under cover. The property can be offered for sale with the option to purchase an adjoining residential vacant parcel of 1,012 m² for further development in the future.

This sale provides the opportunity to purchase a fully refurbished building which boasts multiple classifications permitting a range of uses including office, retail and medical while providing a diverse and secure rental income. This investment-grade property is ideally positioned in a central location close to Townsville’s largest shopping centre has the potential for strong rental growth in the future.

Additional information relating to the offering can be made available upon request by contacting:

James Pascoe - 0411 296 070
james.pascoe@colliers.com