Three shops on the one title in the middle of the prime trading block of Hannan St, how rare is that?
Enjoying a 14m frontage and with rear ROW access for staff parking the property comprises three shops all well leased on Commercial Tenancy (Retail Shops) Act leases with the Lessees paying council and water rates, land tax, insurances and all consumables, thus providing the owner with an attractive cash-flow of $83,500 pa plus GST that will rise significantly when the last of the three leases comes up for renewal in September 2011. The other two leases have annual rent reviews of 5%. The return is currently about 8.4% which should rise to about 10% in September 2011 so offering a very attractive return on investment.
Kalgoorlie is set for a sustained period of growth and prime investment property is hard to find at the best of times so this offers a genuinely rare opportunity to acquire a slice of Kalgoorlie's premier retail precinct.