![]() Asset Class: | Industrial |
![]() Price: | $ 1500000 |
![]() Net Yield: | 7.20 % |
![]() Net Yield - including solar strategy: | % |
![]() Property Market Status: | Off Market |
Presenting a great opportunity to purchase a freehold industrial property, on a large site, fully leased to a long standing national tenant (in occupation at the property for 4 years already) who have just signed a new 5 year lease until March 2030, with 2 * 5 year option periods.<br><br>The rents are considered at (if not below) market, and given the ample hardstand and driveway areas, recently furbished office space and functional warehouse, with dual street access, we see this property being attractive to tenants in the long term.<br><br>The yield is very attractive considering the quality of the tenant and freehold industrial nature of the property.<br><br>We see solid rent and capital growth for this property well into the future.<br><br>We look forwrd to securing this property for you.
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?
The property is located in the Rockhampton CBD.<br><br>Rockhampton is located approximately 640km north of Brisbane and approximately 330km south of Mackay.<br><br><b>Rockhampton overview and economy:</b><br><br>• Rockhampton has a solid and diverse economy with strong emphasis on agriculture, mining, health care and defence.<br><br>• It is supported by corporate users associated with the coal industry, railway, Ergon Energy, Central Qld University and armed forces.<br><br>• Sporting teams are also providing an increasing focus, given the distance midway between Brisbane and Cairns.<br><br>• The Singaporean Army is a strong economic supporter, when on exercise at nearby Shoalwater Bay.<br><br>• Passenger movements through the Rockhampton Airport have now hit record levels, with approximately 650,000 passengers passing through the terminal every year. Both domestic and international aircraft including B747 to B776 and A340 service the Rockhampton terminal.<br><br>• The Federal Government has recently announced a boost of $38 billion to the Australian Defence Force, which will directly benefit the Region, with the Shoal Water Bay Training Area allocated more than $53 million in additional contracts.<br><br>• Alliance Airlines new aviation maintenance, repair and overhaul (MRO) facility is in operation, with practical completion March 2023. The project is backed by the Queensland Government’s $175 million Jobs and Regional Growth Fund. This project is expected to boost the local economy by $195 million over the next 10 years.<br><br>• Recognized nationally as the beef capital of Australia, Rockhampton’s beef value production represents one-third of all Queensland’s production with three major abattoirs, generating over $1 billion in overall<br>product value.<br><br>• The region also produces around 40% of Queensland’s coal and is strategically located within proximity to Queensland’s major mining regions.
Additional Location Information File<p style="padding-left:0px;"><span style="color:rgb(64, 68, 71);padding-left:0px;background-color:transparent;margin-inline-start:0px;"><b>TVH (national air conditioning and fire services contractor) is 100% Australian owned with over 25 year’s industry experience.</b></span></p><br><p style=""><span style="color:rgb(64, 68, 71);padding-left:0px;background-color:transparent;margin-inline-start:0px;">Our customised technology allows us to seamlessly deliver tailored technical solutions for our customers within Mechanical HVAC, HVAC Hygiene, Electrical and Fire Services across multiple sectors.</span></p><br><span style="color:rgb(64, 68, 71);">Our services include asset audits, compliance, installation, maintenance, reactive work, emergency services and project/construction work.</span><br><br><p style=""><span style="color:rgb(64, 68, 71);padding-left:0px;background-color:transparent;margin-inline-start:0px;">The journey commenced in 1998 with Environair providing Hygiene services. In 2011 there was a change of ownership and Total Ventilation Hygiene (TVH) commenced operations. TVH is owned and managed by three Directors involved in the daily management and setting the strategic vision of the business.</span></p><br><p style=""><span style="color:rgb(64, 68, 71);padding-left:0px;background-color:transparent;margin-inline-start:0px;">Since then, TVH has expanded providing multiple service offering nationally. In 2021 TVH purchased McMaster Refrigeration to allow us a greater technical presence in the central Queensland area.</span></p><br><p style=""><span style="color:rgb(64, 68, 71);padding-left:0px;background-color:transparent;margin-inline-start:0px;">In recent times we have seen the commencement of TVH’s sister company TVHi. TVHi is a proudly aboriginal organisation.</span></p><br><span style="color:rgb(64, 68, 71);">With delivery from +30 locations nationally, we can offer our customers an efficient and effective complete solution.</span><br><br><span style="color:rgb(64, 68, 71);">TVH have been at the property since 2021 and prior to then, McMaster Refrigeration owned and operated from the location since 1990.</span><br><br><a style="color:rgb(64, 68, 71);display:inline;" target="_blank" href="https://tvhs.com.au/"><u>https://tvhs.com.au/</u></a><span style="color:rgb(64, 68, 71);"></span><br>
Initial Term:
Security:
2 months rent plus GST
Security Info:
2 months rent plus GST
<ul style="list-style-type:disc;list-style-position:inside;padding-inline-start:20px;"><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="list-style-position:inherit;list-style-type:inherit;display:inline;"><span style="color:rgb(51, 51, 51);padding-left:0px;font-weight:normal;font-style:normal;">Estimated Net Income: $107,920 p.a. + GST ($117/sqm net) after all outgoings including management fees and land tax, etc.</span></p></li></ul>
Additional Financial Information FileInitial Term:
Security:
2 months rent plus GST
Security Info:
2 months rent plus GST
Subject Property: 286 Bolsover Street, Rockhampton – Workshop/Office: 920 sqm; Land: 1,519 sqm - $107,920 ($117/sqm) net p.a. + GST 292-298 Bolsover Street, Rockhampton – Warehouse: 370sqm, Hardstand: 2,000sqm - $90,000 ($243/sqm) net p.a. + GST 298-300 Alexandra Street, Rockhampton – Warehouse/Office: 960sqm; Land area: 2,000sqm - $137,000 ($142/sqm) net p.a. + GST Subject to further due diligence and valuation
Offer To Purchase:
$
Initial Deposit:
$
Due Diligence:
days
Finance:
days
Settlement:
days
<ul style="list-style-type:disc;list-style-position:inside;padding-inline-start:20px;"><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Type: Freehold industrial property</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">National Tenant: Total Ventilation Hygiene – air con – long standing tenant</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Building Area: 920 sqm* (Office: 240 sqm*; Workshop: 680 sqm*) plus 520 sqm* of concrete hardstand </span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Land Area: 1,519 sqm*</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Zone: Industrial Light</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);font-style:normal;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Lease Term: New 5 year lease until 31 March 2030 + 2 * 5 year options</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Reviews: CPI, Market Review at Option with a Ratchet clause</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Estimated Net Income: $107,920 p.a. + GST ($117/sqm net) after all outgoings including management fees and land tax, etc.</span></p></li></ul><br><b>Why we like this investment:</b><br><br><ul style="list-style-type:disc;list-style-position:inside;padding-inline-start:20px;"><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Industrial – strong tenant demand</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Long standing, national tenant (since 2021, and just signed new 5 year lease)</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Recent refurb of office space</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Low site cover – providing ample hardstand (attractive to tenants)</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Low rents – potential for rental growth</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Two street access (Bolsover Street and Bolsover Lane)</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);font-style:normal;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Didn't flood in 2011 per maps and agent/vendor</span></p></li></ul>