 Asset Class: | Office |
 Price: | $ 2323234 |
 Net Yield: | 3.00 % |
Net Yield - including solar strategy: | % |
 Property Market Status: | On Market |
<p>Positioned in the heart of Mackay's prestigious "Legal & Office" CBD precinct, 17 Brisbane Street represents an exceptional investment opportunity. This multi-tenanted office building offers a total net lettable area of 1,038sqm* across six strata-titled lots, currently generating a strong net rental return of $298,498* per annum plus outgoings and GST.</p> <p>The property features an impressive tenant mix anchored by Legal Aid Queensland on a secure lease until 2026 with a 5-year option, providing investors with stable long-term income. Supporting tenants include Taylor's Solicitors across multiple units with new 3-year leases plus 2x3 year options, and Nobul Resources secured until 2024.</p> <p>With a statutory land value of $260,000 and a highly competitive asking price of circa $4.175 million, this asset combines prime location with strong fundamentals. The property offers valuable off-street parking with 16 exclusive car spaces - a significant advantage in this central CBD location.</p> <p>This is truly a 'once in a lifetime' opportunity to acquire a substantial commercial holding under one ownership while benefiting from diversified income streams across multiple professional tenants in a growth regional market.</p>
How old is the asset?
Vendor's reason for selling?
Days property been on market?
Is this property strata titled?
Are the seller and tenant related parties?
How long has the current tenant been on site?
How long has the tenant been in business?
Is this property in a flood zone?
Is this lease a leaseback arrangement?
<p>Mackay is a thriving regional center on the Queensland coast, located approximately 970km north of Brisbane. As the gateway to the Bowen Basin coal mining region, the city benefits from a diverse economy based on mining services, agriculture (particularly sugar), tourism, and professional services.</p> <p>The property is strategically positioned in the <strong>heart of Mackay's CBD</strong> within the established legal and professional services precinct. The immediate area hosts numerous law firms, accounting practices, and government services, creating a natural clustering of complementary businesses.</p> <p>The location benefits from excellent accessibility, visibility, and proximity to the Mackay Regional Council offices, courts, and other essential services. The property's position within the Business or Principal Centre zoning ensures long-term planning security and development potential.</p>
Additional Location Information File<p>The property benefits from a diverse tenant mix of established legal and professional services firms:</p> <p><strong>Legal Aid Queensland</strong></p> <ul> <li>Leases Lots 1 & 7 (393sqm* NLA)</li> <li>Rental: $133,332.86 p.a. +outgoings +gst</li> <li>Term: Secure lease until 28.02.2026 plus a 5-year option</li> <li>Review: CPI/December qtr</li> <li>Four (4) exclusive car parks</li> </ul> <p><strong>Nobul Resources</strong></p> <ul> <li>Leases Lot 6 (254sqm* NLA)</li> <li>Rental: $60,000 p.a +gst (inclusive outgoings) or $38,090 p.a net (income)</li> <li>Term: Until 31.10.2024 plus a 2-year option term</li> <li>Two (2) exclusive car parks</li> </ul> <p><strong>Taylors Solicitors</strong></p> <ul> <li>Leases Lots 3, 4 & 5 (391sqm* NLA combined)</li> <li>Combined Rental: $127,075 p.a. +outgoings +gst</li> <li>Term: New 3-year leases plus 2 x 3-year option terms</li> <li>Review: CPI or fixed 4%, whichever is the lesser</li> <li>Six (6) exclusive car parks total</li> </ul>
Initial Term:
Security:
Security Info:
<p>This premium investment opportunity presents compelling financial fundamentals:</p> <p><strong>Purchase Price:</strong> Circa $4,175,000</p> <p><strong>Total Gross Rental:</strong> $320,407.86* p.a. +outgoings +gst</p> <p><strong>Total Net Rental:</strong> $298,498* p.a. +outgoings +gst</p> <p><strong>Outgoings:</strong></p> <ul> <li>Mackay Regional Council Rates: $27,925.20* p.a.</li> <li>Body Corporate Rates: $90,933.76* p.a +gst</li> <li>Land Tax: $nil</li> <li>Management fees: 3.5% +gst on rent collected $11,214.28 p.a +gst</li> </ul> <p>The statutory land value as of June 2023 is $260,000, representing strong underlying land value for this central CBD location with substantial improvements.</p>
Additional Financial Information FileInitial Term:
Security:
Security Info:
<p>ecsdcdvfdvd</p>
<p>edededdede</p>
Offer To Purchase:
$
Initial Deposit:
$
Due Diligence:
days
Finance:
days
Settlement:
days
<ul> <li>Prime CBD position in Mackay's established legal and professional services hub</li> <li>Strong net rental return of $298,498* p.a. plus outgoings and GST</li> <li>Secure anchor tenant with Legal Aid Queensland committed until 2026 plus options</li> <li>Multiple units leased to established legal firms with newly signed leases</li> <li>Diversified income stream across six separate tenancies</li> <li>Exceptional parking allocation with 16 exclusive off-street spaces</li> <li>Strategic strata-titled configuration offering future flexibility</li> <li>Zoned 'Business or Principal Centre' allowing for various commercial uses</li> <li>Statutory land value of $260,000 (June 2023)</li> <li>Total building area of 1,038sqm* NLA across six lots</li> <li>Strong lease covenant with professional service tenants</li> <li>Attractive price point seeking offers circa $4.175 million</li> </ul>
