Chin Property Group are pleased to present for sale, individually or in-one-line, two strata-titled commercial units located at 17 University Avenue in the heart of Palmerston CBD, with huge roadside exposure and being just moments from the Palmerston Shopping Centre with ample surrounding amenity.

The subject units are part of four-unit strata titled complex originally constructed circa 1998, being ground level brick structures that have been separated into multiple tenancies. The complex is well landscaped and has a good street appeal with 52 line marked car spaces which are noted as common property for the complex.

The property has historically attracted a number of Government and blue-chip tenants with existing occupiers currently including Cash Converters, Motor Vehicle Registry (MVR) and Workforce Plus.

Unit 3 - Comprises 521sqm of strata area and comprises 3 tenancies in its current configuration and representing a WALE (by income) of circa 2.13 years. The property has a Gross Income of circa $186,383 per annum with total outgoings of approximately $27,952 per annum.

Unit 4 - Comprises 596sqm of strata area and comprises 4 tenancies in its current configuration and representing a WALE (by income) of circa 1.31 years. The property has a Gross Income of circa $265,759 per annum with total outgoings of approximately $31,940 per annum.

The assets represent a combined WALE (by income) of 1.65 years. Leases within the subject properties are typically on net leases with approximately 70% of total outgoings being recoverable. The subject properties have a combined Gross Annual Income of circa $452,142 with total outgoings of circa $59,892 per annum.

Please contact Seth Chin on 0411 178 8... or Victor Harris on 0412 154 1... for more information or to organise an inspection.