37 Watland Street,
Springwood, QLD 4127

37 WATLAND STREET, SLACKS CREEK

Prominently located in busy Watland Street, this impressive single level property is offered to the market for the first time in over 20 years. Providing four shop fronts (currently in a two tenant configuration) with a nett lettable area of 379m2 erected on a 1,014m2 allotment with a front concrete parking area for sixteen (16) vehicles, this property is ripe for both long term investment, owner occupation or a combination of the two. Offered for sale with two long term tenants (one on a monthly tenancy), the opportunity to capitalise on the position of the property, the strength of the surrounding market and the proximity to the M1 Motorway make this an outstanding proposition.

TENANT - Silver Star Hair
AREA - 187m2
GROSS RENTAL - $25,782 + GST
COMMENCEMENT - 1st November 2014
TERM - 3 + 3
REVIEW - CPI INCREASE

TENANT - Fine Lines (Beauty)
AREA - 192m2
GROSS RENTAL - $26,223 + GST
COMMENCEMENT - 1st December 2010
TERM - Monthly
REVIEW - N/A

CURRENT GROSS INCOME: $52,005
LESS OUTGOINGS: $17,000
NETT INCOME: $35,005 PER ANNUM

$690,000 (No GST - Going Concern Exemption Applies)