Food production facilities have been in high demand since the pandemic and have been selling for record low yields as prudent investors recognise the “stickiness” of the operators wanting to secure a long-term lease.
With two brand new 10-year leases commencing on 1st July 2021 this opportunity to purchase a fully leased asset will be highly sought after. The net rental return will generate strong demand from the investor market with a net return at circa $310,000 pa + GST with the outgoings being fully recoverable.
Rental growth is assured due to the fixed 3% pa rent increases with a rental review in the fifth year.
The property has a land area of 5,700 m2 with street frontages to Madison Street and Magnet Road.
The recently renovated improvements have an area of 2,500 m2. The property has fantastic vehicle access and loading dock facilities.
Featuring a new cool room and chiller refrigeration equipment and completely re-wired, the property is expected to attract strong interest from local high net worth investors, syndicates, and self-managed super funds looking for a steady income stream.
Wayne Chorley, Director Realmark said, “Industrial investment property opportunities are the strongest performing and most sought after asset class in the country and this property represents an excellent buying opportunity.”