 Asset Class: | Office |
 Price: | $ 500000 |
 Net Yield: | 4.00 % |
Net Yield - including solar strategy: | % |
 Property Market Status: | On Market |
<p class="mb-4">Presenting from Marty! an exceptional opportunity to acquire a premium office building in the heart of Mackay's Legal and Office CBD precinct. This architecturally distinct property at 17 Brisbane Street offers 1,038sqm of net lettable area across multiple lots, providing a diversified income stream from established professional tenants.</p><p class="mb-4">The property features Legal Aid Queensland as its anchor tenant, complemented by Taylors Solicitors and Noble Resources, creating a robust tenant profile dominated by legal services. With a total gross rental of $320,407.86 per annum plus outgoings and GST, this investment delivers a solid income with strong lease covenants.</p><p class="mb-4">Located in a prime Business or Principal Centre zoning, the property includes 16 exclusive off-street car parks - a significant advantage in the CBD area. The building is strategically positioned to benefit from Mackay's professional services sector growth while offering the rare opportunity to consolidate ownership of multiple lots.</p><p class="mb-4">Currently offered for sale by private treaty with an asking price of approximately $4.175 million, this represents a compelling opportunity to acquire a landmark commercial property with established tenants in Mackay's professional hub.</p>
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<p>Situated in <strong>North Queensland</strong>, Mackay is a thriving regional city with a diverse economy built on mining, agriculture, and professional services. The property is positioned in the heart of Mackay's legal and office CBD precinct, offering excellent connectivity to government services, retail amenities, and the broader business district.</p> <p>Mackay serves as a <strong>key service hub</strong> for Queensland's resources sector, particularly the Bowen Basin coal region, while also benefiting from strong agricultural industries including sugar production. The city's strategic location and economic diversity provide a solid foundation for commercial real estate investment.</p>
Additional Location Information File<p>The property features a <strong>strong tenant profile</strong> dominated by established legal services:</p> <ul> <li><strong>Legal Aid Queensland</strong> (Lots 1 & 7) - Anchor tenant occupying 373sqm NLA with lease until February 2026 (plus 5-year option term). Reviews occur CPI/December qtr.</li> <li><strong>Noble Resources</strong> (Lot 6) - Occupying 254sqm NLA with lease until October 2024 (plus 2-year option term).</li> <li><strong>Taylors Solicitors</strong> (Lots 3, 4 & 5) - Occupying multiple spaces totaling 405sqm NLA on new 3-year leases plus 2x3 year option terms. Reviews are CPI or fixed 4%, whichever is lesser.</li> </ul> <p>This tenant mix provides <strong>excellent lease diversity</strong> with staggered expiry dates, anchored by the government-backed Legal Aid Queensland. All tenants have demonstrated commitment to the location with multiple renewal options in place.</p>
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<p>This investment opportunity presents <strong>compelling financials</strong> with a total gross rental of <strong>$320,407.86 per annum</strong> plus outgoings and GST, delivering a net rental of <strong>$298,498 per annum</strong>.</p> <p>The property features multiple income streams from established tenants:</p> <ul> <li>Legal Aid Queensland: <strong>$133,332.86 pa</strong> + outgoings + GST (Lots 1 & 7)</li> <li>Noble Resources: <strong>$60,000 pa</strong> + GST (inclusive of outgoings) or <strong>$38,090 pa</strong> net income (Lot 6)</li> <li>Taylors Solicitors: <strong>$68,575 pa</strong> + outgoings + GST (Lot 3)</li> <li>Taylors Solicitors: <strong>$28,925 pa</strong> + outgoings + GST (Lot 4)</li> <li>Taylors Solicitors: <strong>$29,575 pa</strong> + outgoings + GST (Lot 5)</li> </ul> <p>Annual outgoings include Council Rates (<strong>$27,925.20 pa</strong>), Body Corporate Rates (<strong>$90,933.96 pa</strong>), and Management fees (<strong>$11,214.28 pa</strong>).</p>
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<ul> <li>Prime position in Mackay's Legal and Office CBD precinct</li> <li>Substantial 1,038sqm NLA spread across multiple lots</li> <li>Strong anchor tenant with Legal Aid Queensland on a 5-year lease until 2026</li> <li>Multiple tenancies providing income diversification</li> <li>Attractive gross rental of $320,407.86 per annum plus outgoings</li> <li>Solid net rental of $298,498 per annum plus outgoings</li> <li>Valuable off-street parking with 16 exclusive car spaces</li> <li>Strategic Business or Principal Centre zoning</li> <li>Opportunity to consolidate multiple lots under single ownership</li> <li>Taylors Solicitors secured on new 3-year leases with 2x3 year options</li> <li>Statutory land value of $260,000 (June 2023)</li> <li>Architecturally distinctive building with street presence</li> </ul>
