 Asset Class: | Office |
 Price: | $ 1475000 |
 Net Yield: | 8.00 % |
Net Yield - including solar strategy: | % |
 Property Market Status: | Pre Market |
Presenting an outstanding investment opportunity to acquire a 100% freehold interest in 84 Main Street Proserpine QLD 4800, a rare freestanding high-yielding retail investment leased to blue-chip national tenant Westpac Banking Corporation - market capitalisation that exceeds $70b (ASX:WBC). The tenant have occupied the site for over 45 years and have recently entered a new lease until 2027 (options until 2033). <br><br>Located on a high profile 908 m2 corner allotment with dual frontage in the heart of Proserpine, 36 Middle Street enjoys dual frontage of 92 metres. <br><br><span style="color:rgb(0, 0, 0);">The opportunity to acquire </span><span style="color:rgb(51, 51, 51);">84 Main Street Proserpine QLD 4800</span><span style="color:rgb(0, 0, 0);"> presents a unique opportunity for investors to purchase a property in the heart of the regional CBD with a blue-chip tenant with a net return of 8%. </span><br><br>
How old is the asset?
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Is this property strata titled?
Are the seller and tenant related parties?
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Is this property in a flood zone?
Is this lease a leaseback arrangement?
Initial Term:
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Please see below. <br><br><b>Notes: </b><br><br><ul style='list-style-type:ulRightPointer;list-style-image:url("data:image/svg+xml,%3Csvg xmlns=%22http://www.w3.org/2000/svg%22 width = %229px%22 height = %229px%22%3E%3Cpath d = %22M14.6,95c0,0.1,0,0.1-0.1,0.2c0,0.1-0.1,0.1-0.2,0.1l-7,3.2c-0.1,0-0.1,0-0.2,0S7,98.4,6.9,98.4 c0,0-0.1-0.1-0.1-0.2s0-0.1,0-0.2l1.4-3.3l-1.3-3.4c0-0.1,0-0.1,0-0.2s0-0.1,0.1-0.2c0,0,0.1-0.1,0.2-0.1s0.1,0,0.2,0l6.9,3.7 c0.1,0,0.1,0.1,0.2,0.1S14.6,94.9,14.6,95z%22 style=%22fill:rgb(51%2C51%2C51)%3Btransform:translate(-6px,-90px)%3B%22/%3E%3C/svg%3E");list-style-position:inside;padding-inline-start:20px;'><li style="margin-inline-start:20px;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Please note that the tenant pays council rates, insurance and water</span></p></li><li style="margin-inline-start:20px;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">The property is under the threshold for the land tax, so no land tax is applicable </span></p></li></ul>
Additional Financial Information FileInitial Term:
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Offer To Purchase:
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Initial Deposit:
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Due Diligence:
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<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;">Income Underpinned by ASX Powerhouse: Westpac Banking Corporation (ASX:WBC) is one of the largest banks in Australia with a market capitalisation of over $70b. Westpac operates in Australia and New Zealand and has a growing presence in Asia, including a branch network in China, India, Indonesia, and the Philippines.</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;">The high profile corner position ensures maximum exposure in the heart of Proserpine CBD</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;">Tenants since 1980s </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;">Secure new 3-year lease to 2027 plus 3 x 2-year options through to July 2033</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;">Ample on-site parking</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;">Versatile well-maintained 383 sqm single level building</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;">Proserpine: home to Whitsunday Coast Airport, 450,000+ passengers annually, Australia’s sugar capital, gateway to the Great Barrier Reef and commercial centre of the Whitsunday Region, trade catchment circa 34,000</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);font-weight:bold;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:normal;"><b>Recent capital improvements include new roof, box gutters, drainage, carpet and carport (2019)</b></span></p></li></ul>
