Bidding battle for office space
A TOWNSVILLE office space will be sold under the hammer in Sydney later this month as southern investors continue to show interest in the city’s commercial property market.
A 742sq m unit at 547 Woolcock St will be sold at the Burgess Rawson’s Flagship June Portfolio auction to be held at Doltone House in Sydney on June 19.
The tenant, Spotless, is a high- profile ASX listed tenant with $ 3.1 billion in revenue.
Burgess Rawson Queensland sales director Glenn Conridge said Townsville had cemented its investor appeal as the “capital” of North Queensland, with buyer interest in the city’s commercial property market constantly increasing.
“Key regional areas have attracted increasing interest among commercial property buyers over the past year, particularly in Queensland, with Townsville top- of- mind for many commercial property investors as a strong regional market,” he said.
“With the asset’s offering of excellent depreciation benefits and its status as an easily managed single- tenant investment, the property is the ideal entrylevel investment.”
Spotless has a five- year lease with the option to extend to 2026 and the property has a net income of $ 83,459 pa + GST, supported by minimum 3.5 per cent annual rent increases.
For more information, call Mr Conridge on 0413 873 337.