13 Fitzgerald Road

Greenfields WA 6210

This is an opportunity to buy a modern property with a good yield that is fully leased to long standing tenants.The Showroom/Warehouse property is on 2132m2 of freehold land that has a 40m frontage to the busy Mandurah Road and there is a 25.5m frontage via the access road of Fitzgerald Road.The property comprises 2 Showroom/Warehouse tenancies that were built circa 2008 that are concrete tilt panel with metal deck roof. The tenancy areas are 580m2 + 563m2 giving a total lettable area of 1143m2. Each has a showroom with a drop ceiling with recessed lighting.The Sink Warehouse (580m2) has a lease to October 2024 and Mandurah Tile and Stone (563m2) has a lease to March 2024. Both tenancies pay outgoings and GST.Both tenancies have mentioned they are super busy as people are spending money on their property upgrades instead of overseas holidays.The net income is approx $118,580 pa (an average of under $104/m2) providing an approx 7% net return. Note this is based on a low rental rate for the area.The property is well leased to longstanding tenancies and at under $1485/m2 of building area this represents great value for the area, especially for properties which are modern and have exceptional exposure.Be quick as investments such as these and with fair rents sell very quickly.Contact Peter Vetten, your commercial property specialist with Local Knowledge and National Strength.DISCLAIMER: Every care has been taken to verify the accuracy of the information contained in this advertisement, but no warranty (either express or implied) is given by Raine & Horne or its agent, as to the accuracy of the contents. Purchasers should conduct their own investigations into all matters relating to the proposed purchase of the property.