The property is located on the northern side of Capricorn Highway in an industrial area within Emerald approximately 2.5 kilometers from Emerald CBD.
The subject land is a slightly irregular shaped with 2 street frontages and zoned “Industry Zone ” with an area of 1.898 hectares. Access for the property is available from Capricorn Highway while Tyson Road is currently unpaved road without markings.
Improvements comprise an industrial warehouse of colorbond metal deck construction (1,000 sqm of LA), attached office of hardiplank construction (255 sqm of LA), attached workshop of colourbond metal deck construction (48 sqm of LA), attached awning (148 sqm of BA), mezzanine (35 sqm of BA, and attached carport (294 sqm of BA).
The main building provides a total lettable area (LA) of approximately 1,303 sqm and a total building area (BA) of 1,780 sqm with the overall building having a site coverage ratio of approximately 9.4%.
Site improvements include full boundary fencing, bitumen paved car parking area,wash down bay, rain water tank, clothes line and signage.
The whole of the property is leased to Cougar IME Pty Ltd until 02/09/2028with an option for further term of 10 Years. The current rental under the lease is $158,652 pa net ex GST ($122/sqm)
Proposed works on “as if complete” basis include construction of a new heavy vehicle access off Tyson Road and provide all weather access bitumen hardstand to approximately 3.500 sqm of the site. The cost to complete works is $218,900 excluding GST.
The net rental upon completion of the site works under the amended lease is $200,000 pa net ex GST ($153/sqm).
Strengths:
Fully leased investment property
Location with highway frontage
Proximity to major arterial road
Proximity to major transport infrastructure
Gantry crane
Low site coverage allows for further development of the site subject to council approval.
Good provision of onsite car parking.
For further information please contact Clinton Adams.
