Showroom / Warehouse | International Tenant | Impressive Return
The Property comprises a large commercial amalgamated parcel with frontage to a section of the current Bruce Highway, comprising six adjoining allotments forming a retail / industrial complex within the Central Queensland regional city of Rockhampton. Structural improvements include a single storey clear span warehouse with adjacent offices and retail accommodation, internal mezzanine storage and a front patio area.
The complex is a well presented and well maintained structure with a functional, efficient layout. The office and retail areas compliment the large warehouse space with the mezzanine level providing internal storage in addition to the outdoor hardstand storage space available. Site improvements include concrete driveway and hardstand surrounds, security fencing and on site designated car parking bays. Access and exposure is considered good with customer car parking and access to the office / retail areas via the Gladstone Road frontage. The site also has boundary to Stanley Street with additional driveway access off this roadway.
Financial Information:
Disclaimer: Information provided about forecast annual net cash flow and cash on cash returns are derived from unaudited financial projections. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Responsible Entity. The Responsible Entity cannot and does not give any assurance that the results, performance or achievements expressed or implied by the forward-looking statements will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements.
| Property type | Industrial / Showroom |
| Date acquired | 4 December 2023 |
| Land size | 2,834m² |
| Building size | 1,492m² |
| Purchase price | $2,000,000 |
| Independent valuation | $2,000,000 |
| Capitalisation rate used by Valuer | 9.50% |
| Valuation date | 6 October 2023 |
| Occupancy at purchase date | 100% |
| Financing | All cash purchase |
| WALE (Lease Expiry) | 2.68 years |
| WALE (Income) | 2.68 years |
| WALE (Lettable Area) | 2.68 years |
The weighted average lease expiry (WALE) is as at purchase date on the basis of the property as a stand alone acquisition, not its weighting in the Fund’s total portfolio. More recent information about the the Fund’s portfolio can be found here.