John Matthew and Sons are pleased to offer this investment opportunity on behalf of our clients.
This property is currently leased to the ASX Listed Coventry Group Ltd (ASX:CGY) on a 5 year term expiring 28/2/2026. The property is utilised to operate Cooper Fluid Systems a division of the Coventry Group. Showing an 8% return this property will be an asset to any investor.
Set on 3,713sqm* this corner block has 60sqm* of reception/showroom, office and ablutions. These improvements are accessible via a concreted off-street parking area that faces Atbara St.
The highly functional 940sqm* of workshop is housed within a heavy duty steel portal framed structure with eight roller doors facing Keogh Way. The truss height of the workshop is 6m. A mezzanine level within the workshop contains further office area including a boardroom.
Multiple gates on Keogh Way provide access to the yard and workshop area. The yard is fully fenced and includes a mixture of sealed and unsealed hardstand.
Quality Tenant – Coventry Group Ltd ASX:CGY
Secure Lease – Five (5) year term commencing 1st March 2021 (original Lease commenced 1st March 2016)
Passing Rent – $171,665,54 + GST + Outgoings
Rent Reviews –
1/3/23 CPI review
1/3/24 Greater of Market Review or CPI
1/3/25 CPI review
Asking Price – $2,145,000 and being sold as a ‘Going Concern’
Return on Asking Price – 8%
*Estimates Only
Estimated Outgoings
Council Rates – $13,500
Water Rates – $650.00
Insurance – $6,500.00
For further information including an Information Memorandum give Daniel Lavery (0411 174 452) or James Brennan (0434 967 357) a call, or email them at [email protected] & [email protected].
