 Asset Class: | Office |
 Price: | $ 3333333 |
 Net Yield: | 3.00 % |
Net Yield - including solar strategy: | % |
 Property Market Status: | On Market |
<p>Presenting an exceptional commercial investment opportunity in the heart of Mackay's thriving legal and office CBD precinct. This premium office building at 17 Brisbane Street offers astute investors a rare chance to acquire a fully-tenanted property with strong, established tenants.</p> <p>This multi-unit complex spans 1,038sqm NLA across Lots 1-7, featuring a diversified tenant mix including Legal Aid Queensland and Taylor Solicitors. The property generates an impressive total gross rental of $320,407.86 pa plus outgoings and GST, with a solid net rental return of $298,498 pa.</p> <p>Strategically positioned in Mackay's Business or Principal Centre zone, this investment presents a 'once in a lifetime' opportunity to secure multiple legal and professional tenancies under one ownership. The building offers valuable off-street parking with 16 exclusive car spaces—a significant advantage in the CBD—ensuring tenant satisfaction and retention.</p> <p>With Legal Aid Queensland secured on a 5-year lease until 2026 and Taylor Solicitors committed to new 3-year leases with 2x3 year options, this investment provides exceptional income security. The property's statutory land value of $260,000 (as of June 2023) further underscores its intrinsic value in this thriving regional centre.</p> <p>Currently offered for sale by private treaty with offers sought around $4.175 million, this represents an excellent yield proposition for commercial property investors seeking stable returns and capital growth potential in one of Queensland's most important regional economic hubs.</p>
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<p>Mackay is a thriving regional city located on Queensland's central coast, positioned between Brisbane and Townsville. As a major service hub for the Bowen Basin mining region and with a diverse economy spanning agriculture, tourism, and manufacturing, Mackay offers investors a stable economic foundation.</p> <p>The property at 17 Brisbane Street sits in the <strong>heart of Mackay's CBD</strong>, specifically within the legal and office precinct. This strategic location provides excellent exposure and accessibility for the professional tenants and their clients.</p> <p>The Brisbane Street position benefits from the ongoing development and infrastructure investments in central Mackay, with the area designated as a <strong>Business or Principal Centre</strong> zone under the Mackay Council planning scheme.</p>
Additional Location Information File<p>The property features a strong mix of established tenants:</p> <ul> <li><strong>Legal Aid Queensland:</strong> Occupying Lots 1 & 7 (393sqm NLA combined) on a secure lease until February 2026 plus a 5-year option term. Current rental of $133,332.86 pa + outgoings + GST with CPI/December qtr reviews.</li> <li><strong>Nobul Resources:</strong> Leasing Lot 6 (254sqm NLA) until October 2024 on a 2-year option term at $60,000 pa + GST (inclusive of outgoings).</li> <li><strong>Taylor Solicitors:</strong> Occupying multiple units (Lots 3, 4 & 5) totaling approximately 401sqm NLA with new 3-year leases plus 2x3 year options. Combined rental across these units of approximately $127,075 pa + outgoings + GST with reviews of CPI or fixed 4%, whichever is lesser.</li> </ul> <p>All tenants benefit from exclusive car parking spaces, with a total of 16 car parks distributed among the tenancies, providing a significant advantage in the CBD location.</p>
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<p>This investment presents compelling financial metrics:</p> <ul> <li><strong>Total Gross Rental:</strong> $320,407.86 pa + outgoings + GST</li> <li><strong>Total Net Rental:</strong> $298,498 pa + outgoings + GST</li> <li><strong>Statutory Land Value:</strong> $260,000 (as of June 2023)</li> <li><strong>Price Guide:</strong> Circa $4.175 million</li> <li><strong>Total Outgoings:</strong> Approximately $38,624 pa (including Council Rates, Body Corporate, and Management fees)</li> </ul> <p>The property features a strong income distribution across multiple tenants, with Legal Aid Queensland providing a significant anchor tenancy at $133,332.86 pa + outgoings. The remaining units are leased to a combination of legal and professional tenants, creating a diversified income stream.</p>
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<ul> <li>Prime location in Mackay's legal and office CBD precinct</li> <li>Fully-tenanted property with established tenants including Legal Aid Queensland</li> <li>Substantial rental income of $320,407.86 pa gross plus outgoings</li> <li>Secure lease terms with Legal Aid Queensland until 2026 and other tenants on 3-year terms</li> <li>Generous off-street parking with 16 exclusive car spaces</li> <li>Total area of 1,038sqm NLA across multiple lots</li> <li>Strata-titled property offering flexibility for future options</li> <li>Zoned 'Business or Principal Centre' under Mackay Council planning scheme</li> <li>Strong anchor tenant with Legal Aid Queensland providing reliable income stream</li> <li>Excellent yield potential at the asking price of circa $4.175 million</li> <li>Rare opportunity to consolidate multiple legal tenancies under one ownership</li> <li>Strategic position in a growing regional Queensland city</li> </ul>
