A rock-solid Investment which ticks all the boxes. A large Strata title Commercial suite Leased to Panasonic for a 5 Year term. Situated in the highly sort after "Collins on Bourke “directly opposite South Sydney Landmark, The Grounds.
The 4 Level development comprises a mixture of retail/showroom suites and "high tech" warehouse and office units. The complex also includes a childcare centre, medical centre, restaurant/bar and gymnasium. This superior office Suite enjoys generous natural light and has a kitchen, several glass partitioned offices, two large meeting rooms and an extremely generous foyer and reception area.
The building has two lifts, secure basement car parking and an on-site building manager. There are 7 car spaces included. 5 on title and 2 under License.
Net Lease with Panasonic responsible for 100% of all outgoings. Five Year term commencing 1st May 2018.
Current Net annual income $301,600 + GST with fixed annual increases of 4%
The Commercial office market is strengthening with no signs of slowing down soon. Particularly within the CBD and CBD fringe areas. South Sydney being most unique even by Global standards. Within a 5km radius you have the CBD, Airport and the wealth base of the Eastern Suburbs.
Alexandria more specifically is continuing to undergo gentrification with a high level of homeware, fashion and food use now prominent in the area. This coupled with limited supply of relatively large office suits is resulting in strong market conditions and hence rentals and values are steadily increasing.