Investment/Future Development

FREEHOLD ON OFFER ONLY.Two dwellings on the one block returning 5.5% net. Front residential brick dwelling consists of 3 bedrooms, open plan living area, in-ground pool and Spa. Rear dwelling is an established Preschool operating since 1984. Tenant pays an annual rent of $72,500 net including all outgoings and insurances plus GST. Currently on a 5yr lease expiring on 2019 with 4% CPI every yr. Land tax is not applicable. Sale will carry a ongoing concern. Not only a great investment but the property also benefits from future development into 2 separate lots STCA. Land area is approx 1220 m2 with a northerly backyard and located within easy access to bus service and 800 mtrs to station. Auction on site 29/11/2014 @ 10am UNLESS SOLD PRIOR.
Bidders guide above $1.150m

• View Sold Properties for this Location
• View Auction Results