 Asset Class: | Retail |
 Price: | $ 2800000 |
 Net Yield: | 7.50 % |
Net Yield - including solar strategy: | % |
 Property Market Status: | Off Market |
This exceptional commercial property presents a rare opportunity to acquire a high-performing heritage listed building, Magnetic House, in the rapidly growing Townsville. Ideally positioned just five minutes from the CBD and less than 15 minutes from Townsville Airport, this property offers prime exposure and accessibility.<br> <br>Magnetic House is a two-level, 574 sqm rendered masonry commercial building with a heritage-style design and a total net lettable area of 438 sqm. The ground floor features two retail spaces, including a 76 sqm convenience store and a 185 sqm lounge bar/restaurant with a rear alfresco dining area, along with a takeaway pizza shop. The second level, spanning 177 sqm, is incorporated into the lounge bar tenancy. Additionally, the property includes a licensed front footpath alfresco dining area, currently used by the lounge bar/restaurant. The tenant of the ground-floor lounge bar/restaurant owns the majority of the fit-out, plant, and equipment. The Lounge Bar has been there since March 2023 and has just signed a new 5-year lease. The Convenience Store has been there since June 2020 and has exercised the Option for another 5 years.<br> <br>This investment generates a net income of $210,425.16, with annual rental increases set at CPI, ensuring steady and continuous growth.
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Is this property strata titled?
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Livio's Mini Mart: -<br> <br>Livio’s Mini Mart is a local favourite that has been operating on-site since 2020.<br> <br>La Vida Townsville: <a target="_blank" href="https://www.lavidatsv.com.au" style="">https://www.lavidatsv.com.au</a><br> <br>La Vida Townsville is a local bar and restaurant that has been operating on-site since 2023.
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Security Info:
(Convenience Store) 143-149 Flinders Street – 76 sqm - $473.68 (La Vida) 143-149 Flinders Street – 362 sqm - $576.16/sqm 151 Flinders St Townsville – 580 sqm - $348/sqm 2 Dibbs Street South Townsville – 600 sqm - $291/sqm 1 & 2/224 Flinders Street Townsville City – 102 sqm - $440/sqm 106 High Street Garbutt 4814 – 43 sqm - $721/sqm
Offer To Purchase:
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Due Diligence:
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<ul style="list-style-type:disc;list-style-position:inside;padding-inline-start:20px;"><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Magnetic Island</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Located in the rapidly growing Townsville</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Two-level Building</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Land Area - 574 sqm</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Net Lettable area - 438 sqm</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Ground floor features:</span></p></li><ul style="list-style-type:circle;list-style-position:inside;padding-inline-start:20px;"><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Convenience store - 76 sqm</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Lounge bar/restaurant - 185 sqm</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Second level - 177 sqm</span></p></li></ul><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Net income - $210,425.16</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Annual Rental Increases - CPI</span></p></li></ul>
