 Asset Class: | Office |
 Price: | $ 4175000 |
 Net Yield: | 6.40 % |
Net Yield - including solar strategy: | % |
 Property Market Status: | On Market |
<p>Presenting an exceptional investment opportunity in the heart of Mackay's thriving 'Legal & Office' CBD precinct. This premier commercial property at 17 Brisbane Street offers astute investors the rare chance to secure a substantial 1,038sqm NLA office complex with strong tenancy profile and solid returns.</p> <p>The property comprises six strategically positioned lots with a diverse mix of professional tenants including Legal Aid, Taylor Solicitors, and Noble Resources. This multi-tenanted asset generates a substantial $320,407 gross annual income with $298,498 net rental income, providing an attractive yield on the asking price of $4.175 million.</p> <p>Located in Mackay's Business or Principal Centre zone, this property benefits from excellent visibility and accessibility in a prime commercial hub. The complex features valuable off-street parking with 16 dedicated spaces - a significant advantage in this central location that enhances tenant satisfaction and property value.</p> <p>With established tenants on secure leases including Legal Aid's substantial commitment until 2026 plus a 5-year option, and Taylor Solicitors having recently renewed with two 3-year leases plus 2x3 year options, this property provides immediate strong cash flow and long-term income security.</p> <p>The building's positioning within Mackay's key professional services district, coupled with its statutory land value of $260,000, represents an exceptional opportunity to acquire a consolidated commercial asset with significant future upside potential.</p>
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<p>Mackay stands as a vibrant regional economic hub on Queensland's east coast, strategically positioned between Brisbane and Cairns. The region boasts a <strong>diverse economy</strong> supported by mining, agriculture, tourism, and professional services sectors.</p> <p>As the heart of Queensland's <strong>Mackay-Isaac-Whitsunday region</strong>, the city serves as a key service center for surrounding industries and communities. The CBD area where this property is located hosts a concentration of professional services firms, government offices, and commercial enterprises.</p> <p>The property's position within the <strong>Business or Principal Centre zone</strong> places it at the core of Mackay's commercial activity, ensuring consistent demand for quality office space. The area benefits from excellent accessibility, amenities, and proximity to government services.</p>
Additional Location Information File<p>The property features a <strong>premium tenant profile</strong> of established professional services firms:</p> <p><strong>Legal Aid</strong> occupies a substantial portion with 393sqm NLA across Lots 1 & 7 with 4 exclusive car parks. Their lease runs from 01/03/2021 to 28/02/2026 plus a 5-year option term, with CPI/December quarterly reviews.</p> <p><strong>Noble Resources</strong> leases Lot 6 (254sqm NLA) with 2 exclusive car parks on a lease running from 01/11/2022 to 31/10/2024 plus a 2-year option term.</p> <p><strong>Taylor Solicitors</strong> occupies multiple tenancies:</p> <ul> <li>Lot 3: 211sqm with 4 exclusive car parks on a new 3-year lease plus 2x3 year options</li> <li>Lot 4: 89sqm with 2 exclusive car parks on a new 3-year lease plus 2x3 year options</li> <li>Lot 5: 91sqm with 2 exclusive car parks on a new 3-year lease plus 2x3 year options</li> </ul> <p>All Taylor Solicitors leases include review mechanisms of CPI or fixed 4% increases, whichever is lesser.</p>
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<p>This premium commercial investment delivers <strong>strong financial performance</strong> with multiple income streams:</p> <p>The property generates <strong>$320,407 gross annual rental income</strong> with a net rental return of <strong>$298,498 per annum</strong> after outgoings, delivering an attractive yield on the asking price of $4.175 million.</p> <p>Outgoings are well-structured with:</p> <ul> <li>Mackay Regional Council Rates: $27,925 p.a.</li> <li>Body Corporate Rates: $90,933 p.a. + GST</li> <li>Land Tax: $nil</li> <li>Management fees: 3.5% + GST on collected rent ($11,214 p.a.)</li> </ul> <p>The property features <strong>secure lease structures</strong> with established tenants including Legal Aid ($133,332 p.a.), Noble Resources ($60,000 p.a.), and Taylor Solicitors across multiple tenancies, providing diversified income security.</p>
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<ul> <li>Prime position in Mackay's established 'Legal & Office' CBD precinct</li> <li>Substantial 1,038sqm NLA spread across multiple tenancies</li> <li>Strong annual returns with $320,407 gross rental income</li> <li>High-caliber professional tenant mix including Legal Aid and legal firms</li> <li>Secure lease structures with fixed increases and renewal options</li> <li>Valuable off-street parking with 16 dedicated spaces</li> <li>Multiple income streams spread across 6 lots reducing vacancy risk</li> <li>Business or Principal Centre zoning allowing maximum commercial utilization</li> <li>Opportunity to consolidate multiple lots under single ownership</li> <li>Substantial building with attractive street presence and visibility</li> <li>Low management requirements with established professional tenants</li> <li>Strong local economic fundamentals in Mackay region</li> </ul>
