For Sale - $370000

Description

Established (built mid 1980's) industrial building incorporating two similarly sized tenancy areas. Current rental income $27,500 nett pa with possible opportunity for review of the front unit in November 2009. Rentals for both units (but particularly the rear unit) are below market levels. A quality product north facing in the right spot. Rating valuation is $450,000 (01/08/2007). The property is ideally located close to main arterial routes and is positioned to the eastern side of Craft Place, just off Birmingham Drive, Middleton. The double tenancy building is 209.25 sqm each or 418.5 sqm in total. The total land area is 1015 sqm. There are 8 car parks (i.e. 4 per unit).