Landbank/Investment Opportunity with Income and Development Potential!

Sale Details

Sold on 11 Dec 2015

Description

This sizeable investment located at 159 Canterbury Road, Kilsyth comprises 7 buildings with a total area of 8,004m2* on a land allotment of 1.75 hectares* (4.30 acres*) with a huge hardstand/car parking for approximately 160 vehicles.

Buildings 1, 2, 3, 5 and 6 have a combined total area of 6,272m2* and are currently leased to Kilsyth Bargain Centre presently returning $245,454.54 pa + GST.

Buildings 4 & 7 have a combined total area of 1,732m2* and are currently leased to Romano Tiles and is presently returning $92,688.79 pa + GST.

This is a great investment/landbank opportunity offering potential for refurbishment or the development of a showroom/industrial park.

The subject property is positioned in the well-established Canterbury Road Bayswater – Kilsyth showroom/display precinct featuring major traders such as Bunnings, Officeworks, McDonalds, Total Tools, Super Cheap Auto , Bayswater Jayco and Bridgestone Select Tyres just to name a few.

* Current rentals at only $42 per square metre average.

*approx