This is a unique opportunity to buy an established retail centre in Geraldton’s affluent northern beaches. The centre consists of two buildings, including an older, refurbished commercial building and a newer concrete tilt panel building. Together the two buildings offer 2,045m2 in net lettable area.
The centre is located at a busy intersection on one of Geraldton’s major northern thoroughfares, and directly across the road from a popular motel. There is plenty of car parking onsite.
The centre is leased to established and stable tenants including a doctor’s surgery, chemist, hair dresser, deli and post office. Some of the tenants have been in the centre for 30+ years. Currently, the centre is generating $432,750 in net annual rental income. Fully leased, the centre generates $549,278 in annual net revenue.
The high income and secure tenant base makes this a very attractive investment because even if the purchase price is fully funded with a principal and interest commercial loan at 4.6% over 18 years, the property is still positively geared. With a strategy designed to pay off the loan completely in the quickest possible timeframe, a new buyer can secure a lucrative long-term residual income.
This is an investment that works for you. Contact Corrado today to request a copy of the information memorandum which includes the centre plan and tenancy schedule.
- Building Floor/Area
- 6430 m2 (approx)
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