- Current income $132,300 pa
- Leased to May 2014 plus option
- Land area 324sqm
- Improvements 360sqm approx
Introduction
Burgess Rawson is pleased to offer for sale by Public Auction this prime retail investment situated in the main street of Busselton. Busselton is located approximately 220kms south of Perth and is one of the state's most popular seaside holiday destinations.
Improvements
Situated on the site is a 320sqm (approx) retail shop with a first floor mezzanine of
approximately 40sqm. The improvements have been refurbished in 2007 with a new shopfront, suspended ceiling, recessed fluorescent lighting and air conditioning. A new first floor provides a lunch room and office.
Lease Details
The property is fully leased to Priceline Pty Ltd, a subsidiary of the ASX listed Australian
Pharmaceutical Industries Limited (API). A brief summary of the lease is as follows:
Current rent $132,300 pa plus GST and outgoings
Expiry May 2014
Option Five years
Rent Reviews Annual
Land Details
A rectangular lot with a frontage to Queen Street of 9.17 metres, a depth of 35.34 metres
and a total land area of 324sqm.
Zoning
The Shire of Busselton advise that the property is zoned Business under their current Town Planning Scheme.
Sale Conditions
The property is offered for sale by Public Auction' at 11.00am (WST) Thursday, 15 April
2010. The Auction is to be held in the Forrest Centre Conference Rooms Level 14, 221 St Georges Terrace, Perth. On the fall of the hammer the successful buyer will be required to pay a deposit of 10% of the purchase price with the balance of the purchase price being due and payable at settlement. The conditions of sale will not be read out. Copies are available upon request from the selling agent.
Possession
The property is sold subject to the lease to Priceline Pty Ltd dated 14 November 2007.
Auction Date
Thursday, 15 April 2010 at 11.00am.
Goods & Services Tax
The sellers are registered for GST and the property will be sold as a Going Concern for GST purposes. ALL BIDS WILL NOT INCLUDE GST.
