4 Thomas Mitchell Drive, Wodonga

CENTRAL WODONGA INVESTMENT WITH DEVELOPMENT UPSIDE

L.J Colquhoun Dixon Commercial Real Estate are pleased to offer for sale this superbly positioned freehold opportunity in Central Wodonga.

The offering presents an opportunity to invest in the short-term and then develop (STCA) in the long-term, comprising four (4) tenanted shopfronts on the ground level, with a tenanted 2-bedroom apartment on the first floor.

The total site area is approximately 625 square metres, with the net lettable area across the commercial tenancies comprising approximately 200 square metres; the breakdown is as follows:

Unit 1 – Dry Cleaners (approximately 45 sqm), 6-year lease expiring Feb 2023, Nil option, current rental $9,600 p/a, tenant pays 100% council rates and 20% water rates.

Unit 2 – Leather Workshop (approximately 50 sqm), 1-year lease expiring Aug 2023, with year x year options, current rental $11,440 p/a, Gross agreement.

Unit 3 – Hair and Beauty (approximately 55 sqm), 5-year lease expiring Nov 2026, Nil option, current rental $7,200 p/a, tenant pays 100% council rates and 25% water rates.

Unit 4 – Defence Supplies (approximately 50 sqm), 2-year lease expiring March 2024 with 2-year option, current rental $11,000 p/a, tenant pays 100% council rates and 20% water rates.

First Floor – 2 Bedroom/1 Bathroom unit, periodical month-to-month tenancy, current rental $12,480 p/a, Gross agreement.

The total Income is $51,720 per annum.

Terms: 10% deposit, balance 60 days.

For more information, please contact the agents below.