![]() Asset Class: | Multi-Tenanted |
![]() Price: | $ 4600000 |
![]() Net Yield: | 8.00 % |
![]() Net Yield - including solar strategy: | % |
![]() Property Market Status: | On Market |
<p style=""><span style="color:rgb(0, 0, 0);">This exceptional commercial property presents a unique opportunity to acquire </span><span style="color:rgb(0, 0, 0);"><i>Normanby House</i></span><span style="color:rgb(0, 0, 0);">, a premium retail & office building conveniently located in the heart of the Rockhampton CBD. With ease of access to all major administrative and financial institutions, the property enjoys high visibility, fronting two busy streets: Bolsover and William Streets. Situated amidst the Central Queensland and Capricorn Coast region, currently experiencing a major infrastructure boom, this is an ideal time to secure an asset of this calibre.</span></p><p style=""><span style="color:rgb(0, 0, 0);"> </span></p><p style=""><span style="color:rgb(0, 0, 0);">Recently refurbished, </span><span style="color:rgb(0, 0, 0);"><i>Normanby House</i></span><span style="color:rgb(0, 0, 0);"> is a two-story building with a 914 sqm site area and a net lettable area of 1,223 sqm. It boasts a diverse mix of strong national tenants, including Elders Insurance, Program Skilled, QIFVLS, EACH Limited, and National Job Link, ensuring a solid income stream.</span></p><p style=""><span style="color:rgb(0, 0, 0);"> </span></p><p style=""><span style="color:rgb(0, 0, 0);">This investment generates a robust net income of $368</span><span style="color:rgb(0, 0, 0);"><i>,</i></span><span style="color:rgb(0, 0, 0);">593.11</span><span style="color:rgb(0, 0, 0);"><i> </i></span><span style="color:rgb(0, 0, 0);">per annum, with annual rent increases tied to the greater of CPI or 3%, depending on the lease agreements. Its prime location, strong tenant base, and consistent rental growth make it a highly attractive and reliable investment opportunity for discerning buyers.</span></p><p style=""><span style="color:rgb(214, 201, 173);"><b> </b></span></p>
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Vendor's reason for selling?
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Is this property strata titled?
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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 style=""><span style="color:rgb(0, 0, 0);"><b>Rockhampton is one of Australia’s most diverse and resilient economies:</b></span></p><p style=""><span style="color:rgb(0, 0, 0);font-weight:normal;">• 240,000 PEOPLE located in Central Queensland.</span></p><p style=""><span style="color:rgb(0, 0, 0);font-weight:normal;">• 84,518 PEOPLE in the Rockhampton Region Local Government Area.</span></p><p style=""><span style="color:rgb(0, 0, 0);font-weight:normal;">• $5.7 BILLION economy that is supported by a diverse industry base (profile id economy).</span></p><p style=""><span style="color:rgb(0, 0, 0);font-weight:normal;">• 45,000 local jobs in Rockhampton, GROWING 3.5% over the last year (SALM, 2024) which is faster than the region’s population growth.</span></p><p style=""><span style="color:rgb(0, 0, 0);font-weight:normal;">• As at, February 2024, Rockhampton had a residential vacancy rate of 0.5%, ONE OF THE LOWEST IN QUEENSLAND.</span></p><p style=""><span style="color:rgb(0, 0, 0);font-weight:normal;">• 906HA that can yield 5435 dwellings across the Rockhampton Region Local Government Area.</span></p><p style=""><span style="color:rgb(0, 0, 0);font-weight:normal;">• 5,500 BUSINESSES in Rockhampton (profile Id economy).</span></p><p style=""><span style="color:rgb(0, 0, 0);font-weight:normal;"> </span></p><p style=""><span style="color:rgb(0, 0, 0);"><b>Investment Drivers:</b></span></p><p style=""><span style="color:rgb(0, 0, 0);font-weight:normal;">• A $12 BILLION major project pipeline across the Rockhampton region.</span></p><p style=""><span style="color:rgb(0, 0, 0);font-weight:normal;">• An estimated 9,000 ADDITIONAL JOBS across the regional economy over the next four years.</span></p><p style=""><span style="color:rgb(0, 0, 0);font-weight:normal;">• 3,500HA State Government declared aquaculture development area.</span></p><p style=""><span style="color:rgb(0, 0, 0);font-weight:normal;">• Affordable cropping and horticulture opportunities with ACCESS TO IRRIGATION.</span></p><p style=""><span style="color:rgb(0, 0, 0);font-weight:normal;">• Approximately 1,700HA of industrial zoned land across the region.</span></p><p style=""><span style="color:rgb(0, 0, 0);font-weight:normal;">• Gateway to the Southern GREAT BARRIER REEF.</span></p><p style=""><span style="color:rgb(0, 0, 0);font-weight:normal;">• DIRECT FLIGHTS from Rockhampton to Brisbane, Mackay, Cairns, Melbourne, Gold Coast and the Sunshine Coast.</span></p><p style=""><span style="color:rgb(0, 0, 0);font-weight:normal;">• Heavy lift capability and INTERNATIONAL STANDARD runway at the Rockhampton Airport.</span></p><p style=""><span style="color:rgb(0, 0, 0);font-weight:normal;">• PORT OF ROCKHAMPTON (formerly Port Alma) Shipping Terminal capable of specialised cargo.</span></p><p style=""><span style="color:rgb(0, 0, 0);font-weight:normal;">• Enriched with CRITICAL MINERALS and resources, the region is capable of supporting the transition to the clean economy.</span></p><p style=""><span style="color:rgb(0, 0, 0);font-weight:normal;">• The Fitzroy River, the LARGEST AND MOST SECURE RIVER catchment system on the Eastern seaboard of Australia.</span></p><p style=""><span style="color:rgb(0, 0, 0);font-weight:normal;">• Well established CONNECTED FREIGHT ROUTES via the Capricornia, Bruce, Leichardt,and Burnett Highways.</span></p>
Additional Location Information File<p style=""><span style="color:rgb(0, 0, 0);">Elders Insurance: </span><a style="color:rgb(5, 99, 193);display:inline;" target="_blank" href="https://www.eldersinsurance.com.au/about-elders-insurance"><u>https://www.eldersinsurance.com.au/about-elders-insurance</u></a></p><p style=""><span style="color:rgb(0, 0, 0);"> </span></p><p style=""><span style="color:rgb(0, 0, 0);">Elders Insurance is committed to being there for you, no matter where life takes you. With a strong belief that the future is unpredictable, Elders Insurance aims to provide peace of mind with comprehensive coverage so that you can feel secure during challenging times. The company prides itself on its local presence, with agents embedded within their communities who are dedicated to understanding the unique needs and circumstances of their clients. Whether you're reaching out for advice or need assistance with a claim, Elders Insurance is ready to help and tailor coverage to suit your individual situation.</span></p><p style=""><span style="color:rgb(0, 0, 0);"> </span></p><p style=""><span style="color:rgb(0, 0, 0);">As one of Australia’s largest regional and rural insurance providers, Elders Insurance also offers an extensive range of policies catering to those in urban areas. Their diverse offerings include business insurance, farm insurance, personal insurance, and fleet and commercial motor insurance, ensuring that all types of customers receive the protection they need.</span></p><p style=""><span style="color:rgb(0, 0, 0);">With over a century of experience in the industry, Elders Insurance has earned a reputation for reliability and customer-centric service. Boasting a network of over 200 locations across Australia, Elders Insurance ensures that help is always within reach, no matter where you are.</span></p><p style=""><span style="color:rgb(0, 0, 0);"> </span></p><p style=""><span style="color:rgb(0, 0, 0);">Each Limited: </span><a style="color:rgb(5, 99, 193);display:inline;" target="_blank" href="https://www.each.com.au/"><u>https://www.each.com.au</u></a></p><p style=""><span style="color:rgb(0, 0, 0);"> </span></p><p style=""><span style="color:rgb(0, 0, 0);">EACH is a for-purpose organisation delivering health and support services that improve lives and strengthen communities.</span></p><p style=""><span style="color:rgb(0, 0, 0);"> </span></p><p style=""><span style="color:rgb(0, 0, 0);">Program Skilled: </span><a style="color:rgb(5, 99, 193);display:inline;" target="_blank" href="https://programmed.com.au/about/our-company/"><u>https://programmed.com.au/about/our-company/</u></a></p><p style=""><span style="color:rgb(0, 0, 0);"> </span></p><p style=""><span style="color:rgb(0, 0, 0);">Programmed Skilled is a leading provider of staffing, facility management, maintenance, and care services, employing over 30,000 people annually across various industries and partnering with more than 10,000 clients of all sizes. Established in Victoria, Australia in 1951 and now part of Japanese company PERSOL, Programmed has grown to support a robust network with over 100 locations across Australasia. The company collaborates with major industries such as mining, oil and gas, government, defence, education, aviation, health, infrastructure, manufacturing, and transport.</span></p><p style=""><span style="color:rgb(0, 0, 0);"> </span></p><p style=""><span style="color:rgb(0, 0, 0);">Programmed Skilled is committed to delivering tailored services by assembling skilled teams and ensuring comprehensive management practices that prioritize safety, training, culture, and compliance. By fostering a people-focused approach, Programmed helps its customers and communities thrive, bringing expertise and operational improvements that enhance performance and satisfaction.</span></p><p style=""><span style="color:rgb(0, 0, 0);"> </span></p><p style=""><span style="color:rgb(0, 0, 0);"> </span></p><p style=""><span style="color:rgb(0, 0, 0);"> </span></p><p style=""><span style="color:rgb(0, 0, 0);"> </span></p><p style=""><span style="color:rgb(0, 0, 0);"> </span></p><p style=""><span style="color:rgb(0, 0, 0);">QIFVLS: </span><a style="color:rgb(5, 99, 193);display:inline;" target="_blank" href="https://qifvls.com.au/"><u>https://qifvls.com.au</u></a></p><p style=""><span style="color:rgb(0, 0, 0);"> </span></p><p style=""><span style="color:rgb(0, 0, 0);">QIFVLS are the leading Queensland based Aboriginal-controlled organisation that provides family and well-being support and legal services. They provide holistic support to their clients and communities that have been affected by domestic and family violence.</span></p><p style=""><span style="color:rgb(0, 0, 0);">They support Aboriginal and/ or Torres Strait Islander people and communities to live free from harm, to realise their potential and empower them to be self-determined.</span></p><p style=""><span style="color:rgb(0, 0, 0);">National Job Link: </span><a style="color:rgb(5, 99, 193);display:inline;" target="_blank" href="https://www.njl.org.au/about/about-us/"><u>https://www.njl.org.au/about/about-us/</u></a></p><p style=""><span style="color:rgb(0, 0, 0);"> </span></p><p style=""><span style="color:rgb(0, 0, 0);">National Joblink (NJL) is a premier registered training organisation which has served the Tasmanian Community for the past 30 years, they are now operating throughout Queensland. Over the years they have offered a diverse range of services to the community. They are a not-for-profit organisation that is owned by the community.</span></p>
Initial Term:
Security:
Security Info:
QBE Insurance Group Limited – 248 sqm - $333.21/sqm Each Limited – 238 sqm - $300.00/sqm Programmed Skilled – 197 sqm - $300.00/sqm Queensland Indigenous Family Violence Law Service – 192 sqm - $310.20/sqm Each Limited – 168 sqm - $300.00/sqm National Job Link – 181 sqm - $349.01/sqm
Offer To Purchase:
$
Initial Deposit:
$
Due Diligence:
days
Finance:
days
Settlement:
days
<p style=""><span style="color:rgb(0, 0, 0);font-style:normal;">· Retail & Office Building</span></p><p style=""><span style="color:rgb(0, 0, 0);font-style:normal;">· Prime Corner Location</span></p><p style=""><span style="color:rgb(0, 0, 0);font-style:normal;">· Land Area - 914 square meters</span></p><p style=""><span style="color:rgb(0, 0, 0);font-style:normal;">· Floor Area – 1,223 square metres</span></p><p style=""><span style="color:rgb(0, 0, 0);font-style:normal;">· Fully leased by established national tenants</span></p><p style=""><span style="color:rgb(0, 0, 0);font-style:normal;">· Five Tenancies</span></p><p style=""><span style="color:rgb(0, 0, 0);font-style:normal;">· Elders Insurance, Program Skilled, QIFVLS, EACH Limited, and National Job Link.</span></p><p style=""><span style="color:rgb(0, 0, 0);font-style:normal;">· Net Income - $368,593.11 per annum</span></p><p style=""><span style="color:rgb(0, 0, 0);font-style:normal;">· Annual Rental Increases – CPI or 3% depending on the lease agreement</span></p>