** UNDER OFFER ** Halliwell Property Agents are pleased to bring this commercial opportunity to the market. Located in York Street - Devonport's City-industrial area, the property has two national tenants, one being Southern Cross Protection, the other being Trenching Systems Australia.
Southern Cross Protection have recently signed a three year extension to their existing three year lease, seeing their occupancy continue to at minimum of November 2024. Their leased area includes offices, kitchen, bathrooms and large warehouse space. This is fitted with significant security and makes for an excellent occupant.
The tenant to the rear, Trenching Systems Australia, has a 2 year lease in place, which is an open warehouse with large roller door clearance, covered driveway to it's immediate frontage, and is alarmed.
The site features multiple access points to the front tenancy, three phase power, sealed driveway, and dual rental incomes.
With a total combined building size of approx. 520sqm on a site of 824sqm, this is an excellent investment opportunity close to town. The location is adjacent to the Bass Highway and in close proximity to busy Formby Road, allowing for easy access either from the Highway or into the CBD.
Listing price is $650,000, providing a net yield of 5.5% (tenants pay all usual outgoings) based on current rental income, increasing in December. Offers considered.
Please contact Colin Rowlands at Halliwell Property Agents for all enquiries or to arrange an inspection.