Side-by-side listings with long-term tenants in a "popular fringe-city location" are expected to provide strong appeal to investors, according to Colliers International's Luke Rutledge.
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Mr Rutledge is marketing the two properties in Islington through an auction campaign and said they were being sold separately or in one line.
One at 98-100 Maitland Road comprises two adjoining single-storey commercial buildings on a corner site. On two separate titles, the properties have a brand new five-year lease to popular Pino's Restaurant in place. Pino's Restaurant are renovating and expanding their operation into 100 Maitland Road. The properties have commencing net rent of $52,000 per annum plus GST with fixed annual increases and a total combined site area of around 202.3 square metres.
The other, at 102 Maitland Road, has been a dry cleaners since 1942 with the current tenant a well-established local business who have been in occupation since 2010. It has a new five-year lease in place with commencing net rent $48,000 per annum plus GST. The building has a site area of around 304 square metres.
Both listings are zoned B2 Local Centre and are set for auction on March 25. Price guides have not been disclosed.
Industrial listing
A significant industrial office and workshop at 3-7 Ironbark Close, Warabrook (pictured bottom right) is to be sold via an online auction on March 25 by Movable's Alan Tonks.
The property comprises 2732 square metres of commercial office space, workshop and warehouse with a 10-tonne overhead crane on a total site area of 6240 square metres.
"The property has a significant office space component and is offered with vacant possession," Mr Tonks said. "This would make it ideal for a corporate head office."
Government tenant
Movable's Steven Dick is marketing a property in Raymond Terrace with a "well-established" NSW government tenant. The property at 29 Port Stephens Street was built in 2008 for Family and Community Services and is positioned close to The Raymond Terrace Market Place Shopping Centre.
The building has a ground floor secure staff only car park and first floor office space. It is returning $262,485.68 per annum plus outgoings and GST and the lease has annual increases.
"Regionally, NSW Government departments are on the move, downsizing, working from home," Mr Dick said.
"This is one department that would find it difficult to move. The services they provide to families in the Raymond Terrace area require them at the coal face, where they can provide a warm, friendly and secure environment."
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