89-91 Young Street, Carrington NSW 2294

Auction Date: May 22, 2024

Multi-tenanted freehold investment in high growth suburb

Auction Location: Via online portal Auctions live or in room at Commercial Collective office

For Sale by Auction on 22 May 2024 at 11am

Located in a bustling suburban area, this property is a standout mixed-use investment. It features a new 10 year lease with Bottlemart, alongside a renowned bakery, a first-floor commercial office, and a popular takeaway shop. Generating $187,100* net annually plus GST and boasting a solid 5.5 year WALE, the ongoing success of these established tenants highlights their exceptional service and significant contribution to the Newcastle region. In addition, the unimproved capital value (UCV) of the property has shown remarkable growth, increasing by approximately $2,000 per week over the past seven years, highlighting its escalating market value and investment potential.

Furthermore, the property offers practical amenities including eight car parks accessible via Thornton Street at the rear, complemented by a main roller door with an eave clearance of 4.5m* for ease of stock drop-off and storage. This setup ensures smooth operational flow for businesses, enhancing its appeal to tenants and investors alike.

Key features includes:
- Anchored by a brand new 10 year lease to Bottlemart
- April 2024 Net income $187,100* per annum plus GST
- May 2024 Net income $191,700* per annum plus GST
- Eight car parks
- UCV has historically increased by $2,000* per week in the past 7 years of ownership
- 100% leased with multiple income streams
- Whole building in a prominent location
- WALE of 5.5 years

*Approximately