Located in the heart of Rockingham, next to the busiest Read Street of Rockingham, this property has a total area of 1,513sqm. It is situated in the commercial district, close to all amenities and surrounded by Beacon Reserve, commercial units, meters away from the beach, providing conveniences to the neighbouring shops and offices, as well as the residents.
The building area is approximately 980sqm, currently leased out and operated as a Chinese Restaurant and the lease will expire in 2019. However, the seller is willing to lease back the property upon settlement with a new 5 years lease of gross rental rate of $82,500 p.a. (include GST) and an option of additional 5 years at prevailing market rate.
With the selling price of $1,280,000, it is providing a gross rate of return of 6.45%p.a. In addition, this property is poised for possible future commercial redevelopment (STCA).
Other features include:
- Large customer parking area
- Male and female toilets
- Large dining area
- Ducted air-conditioning
- Direct external access to storage room
For further information and obligation free appraisal, please contact the selling agent Seng Poon Poh