Description
Mortgagee Exercises Power of Sale - Development Upside
Retail Sold - Flagstone QLD
+ Near New 12 Year Lease to 2030 plus Options to 2050
+ 7- Eleven: Australia’s #1 Convenience Retailer with 700 + Locations & 38 % Market Share
+ Greater Flagstone population forecast for unprecedented growth from 5,902 to 120,000. Expect major developments include – 50,000 dwellings plus major commercial and education precincts
+ Attractive net lease with fixed, compounding 3.5% annual rent increases
+ As new improvements built 2018 , significant depreciation benefits – estimated 74% of first years rent is income tax free
+ Development Upside: High Profile 1.92 ha corner site with major exposure to arterial intersection – potential for future Fast Food, Childcare, Supermarket, Retail, Residential developments (STCA)
+ Tenant pays all usual outgoings as per the lease – excluding land tax
+ Located on the central intersection of Cusack Lane (major arterial to Gold Coast) and Teviot Road (major arterial to Brisbane)
+ Only 1.5km to Flagstone Central – anchored by Woolworths, and only 3km to Flagstone’s fast emerging CBD.
+ Net Income : $290,867.00 pa +GST
Auction: 10.30 am AEDT, Wednesday 9 December 2020
Venue: Crown Casino, Melbourne (interstate bidding options available on the day)
This property is being sold by auction, or without a price and therefore a price guide cannot be provided. The website may have filtered the property into a price bracket for website functionality purposes.
Property Features
- Retail
- Land is 19,200 m²
- Floor Area is 142 m²
Commercial Features
Highlight 1
Near 12 Year Lease to 2030 + Options
Highlight 2
Fixed 3.5% annual rent increases
Highlight 3
Significant Development Upside
