106 Kenny Street,
Portsmith, QLD 4870

106 Kenny Street is leased by a locksmith.
Floor area: 280 sq.metres.
This building is of good quality and there is a tenant who pays $2,731.00 per month including GST which is approximately $2,500.00 plus GST or $30,000.00 per annum plus GST and tenant pays all out goings such as rates, water and insurance.
108 Kenny Street: owner is presently using the building but will vacate when sale settles.
Floor area: 300 sq.metres with 2 large carports at rear.
It is constructed of masonry concrete block with high ceiling height. There is no ceiling sheeting but wood trusses would allow this to be done reasonably cheap if felt necessary.
It is well ventilated with 2 large roller doors and a main entrance door with plenty of windows with safety bars.
Because of the nature of the building I feel top rent would be $75.00 per sq.metre plus GST and all outgoings per annum. If you ceiled and painted the inside and perhaps installed air-conditioners or fans the rent could go up to $90.00 per sq.metre plus all out goings.
At the moment with no work being done on 108 and 106 income the best would be approximately $51,000.00 plus GST nett per annum. This shows a nett return of approximately 7.9%nett.
Owner will accept $680,000.00 with $68,000 deposit unconditional.

For more information, please phone Robert Smith on 0418 772 221

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