581 Hovell Street, South Albury

SOUTH ALBURY OWNER/OCCUPIER AND/OR INVESTMENT OPPORTUNITY

Dixon Commercial Real Estate are pleased to offer for sale 581 Hovell Street South Albury, via public auction on Friday 1 March at 11am on-site.

This corner site is positioned close to Albury's CBD and has a total area of approximately 632 square metres with a 40-metre frontage to Townsend Street, and a 17-metre frontage to Hovell Street.

This leased investment comprises two (2) separate tenancies with a total net passing income of $46,742 per annum + GST (tenants pay outgoings). The warehouse tenancy comprises of 240 square meters with the office tenancy comprising 112 square meters, which can be made available immediately for an owner/occupier.

The offering presents an opportunity for buyers to invest in the short term, with an opportunity to occupy or develop (STCA).

The pertinent lease details of the investment are listed below:

1/581 Hovell Street Tenant: Infinity Co-ordination Pty Ltd
Lease: Four (4) years commencing 1 July 2020
Option: Four (4) years
Rent: $19,627 per annum (plus GST and outgoings)
Rent Reviews: Market review at option with Annual CPI Increases
Note: Available for immediate occupation

2/581 Hovell Street Tenant: IVE Distribution Pty Ltd
Lease: Three (3) years commencing 1 October 2021
Option: Three (3) years
Rent: $27,115 per annum (plus GST and outgoings)
Rent Reviews: Market review at option with Annual CPI Increases

Terms: 10% deposit, balance 60 days.

For more information, or to request a copy of the Information Memorandum, please contact the Sales Agents below.