 Asset Class: | Office |
 Price: | $ 4175000 |
 Net Yield: | 6.70 % |
Net Yield - including solar strategy: | % |
 Property Market Status: | Auction |
<p>Presenting a prime commercial investment opportunity in the heart of Mackay's Legal and Office CBD precinct. This 1,038sqm NLA property offers a strategic blend of established tenants and income security, anchored by Legal Aid Queensland and Taylors Solicitors.</p><p>The property generates a robust total gross rental of $320,407 per annum plus outgoings and GST, with a net rental of $298,498 per annum. With 16 dedicated off-street parking spaces, the building provides exceptional tenant amenity in a sought-after professional precinct.</p><p>The property comprises multiple tenancies across various floor levels, offering a diversified income stream and strong tenant covenant. Located in a prime business district zoning, this asset represents a compelling investment opportunity with strong fundamentals.</p>
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<p>Situated in the heart of Mackay's thriving central business district, this property benefits from its position in the established legal and professional services precinct. <strong>The location offers excellent connectivity to major arterial roads, government offices, and the courthouse</strong>.</p><p>Mackay is a major regional center in Queensland, supporting a diverse economy based on mining services, agriculture, and professional services. The region continues to show strong economic fundamentals and population growth.</p>
Additional Location Information File<p>The property features a strong tenant mix including:<br><strong>Legal Aid Queensland</strong> - Major tenant with lease until February 2026 plus 5-year option<br><strong>Taylors Solicitors</strong> - Multiple tenancies with new 3-year leases plus 2x3 year options<br><strong>Nobul Resources</strong> - Lease until October 2024 plus option term</p><p>All leases include annual CPI or fixed percentage reviews, providing built-in income growth.</p>
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<p><strong>Total Gross Rental: $320,407.86 pa + outgoings + GST</strong><br><strong>Total Net Rental: $298,498 pa + outgoings + GST</strong></p><p>Key financial metrics include:<br>- Council Rates: $27,925.20 pa<br>- Body Corporate Rates: $90,933.96 pa + GST<br>- Management fees: 3.5% + GST on rent collected $11,214.28 pa + GST<br>- Statutory Land Value (June 2023): $260,000</p>
Additional Financial Information FileInitial Term:
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<p>None available yet</p>
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<ul><li>Prime CBD location in Mackay's established legal and professional precinct</li><li>Substantial 1,038sqm NLA across multiple tenancies</li><li>Strong tenant covenant with Legal Aid Queensland as anchor tenant</li><li>Secure income stream with total gross rental of $320,407 pa</li><li>16 valuable off-street car parks</li><li>Multiple income streams from established professional tenants</li><li>Zero vacancy rate with 100% occupancy</li><li>Strategic corner position with excellent exposure</li><li>Business or Principal Centre zoning</li><li>Walking distance to courts and government offices</li></ul>
