Albany warehouse office and lunch bar
A bite-sized Albany industrial unit is for sale with a vacant warehouse and office, plus rental income from a popular local lunch bar tenant.
Colliers International plans to auction 1A Ride Way, at 2pm on December 12, unless is sells earlier.
Broker Matt Prentice says the 428sq m unit is on a high-profile corner site with extensive frontage to William Pickering Dr, giving it huge exposure to the busy arterial route.
“This is an opportunity for both owner-occupiers and investors to acquire an exceptionally well-located industrial unit in a sought-after area. The warehouse and first-floor office are available with vacant possession, allowing owner-occupiers to move in immediately while enjoying rental income from the lunch bar tenant.
“Occupying a converted ground floor showroom, the ‘Pop in on Pickering’ lunch bar returns $25,200 plus GST in net annual rental income.
“There is the opportunity to lease out the warehouse and first-floor office, which benefit from a proven low-vacancy location.”
The stratum in freehold property is within a block of two road-front industrial units developed in the 1990s. It is zoned Business Light Industry and has an A-grade NBS seismic rating.
The building has been maintained in a good condition and is suitable for a wide range of uses, with a favourable ratio of office to warehouse.
Broker Jack Tuson says the property comprises a medium-stud warehouse with two floors of office, showroom and amenity space.
“The warehouse offers 242sq m of clear span space, with access via a roller door to the front yard. The 93sq m ground floor showroom has been modified for tenant Pop in on Pickering for use as a lunch bar, but could easily be re-converted in future if needed. The business also occupies a portion of the car park, used as an outdoor eating area, set amongst well-maintained lawns and trees that front William Pickering Drive.
“The 93sq m first floor benefits from full-height windows, providing ample natural light. This office and amenity space is accessed via a stairway from an entrance on the ground floor. Both the ground floor lunch bar and first floor office and amenity space are in good condition and could suit a wide range of business uses.”
Tuson says Pop in on Pickering is popular with workers from the surrounding industrial area. It is signed to a three-year lease, with two rights of renewal of three years each extending the final expiry to January 2027. Market rental reviews are on each renewal.