Unit 1/144 Forrester Rd :: St Marys

An exceptional investment property situated in high growth area. Prominently situated in the well established and sought after St Marys industrial precinct offering easy and convenient access for large, medium and small industrial businesses. Close to F4 freeway, with direct access to St Marys and Penrith City retail and commercial CBD, rail and bus. Set high with great street appeal, main road exposure and excellent signage opportunities.

Building Description:

144 Forrester Rd is a modern newly constructed complex of a major brand, state of the art, self storage facility and four high exposure factory/office/showroom units. The complex has easy access for all truck types from Forrester Rd, the main artery of the St Marys Area. Construction is in concrete tilt panel.

Zoning:

Penrith City Council 4(a) Industrial

Tenancy Details:

Unit 1 is a recently fitted out and leased clean, clear tenancy with factory ceiling clearance to 6 m with carpeted and painted floors and walls . A full height and width roller powered shutter 4.5x4mprovides access to the rear of the unit. Ample natural light to the factory area. Huge main road exposure. The unit consists of glazed ground floor entry, counter/reception and open ground floor warehouse and showroom space which has been fitted as a fully equipped women’s heath studio. An carpeted mezzanine area offers a well appointed enclosed, air conditioned meeting room/ work space and amenities (WC, shower and kitchenette). A easterly outlook with local views is available from all parts of the mezzanine and showroom.

Area:

Ground Floor (factory) 206 sqm
First floor offices 42 sqm
Total area 248 sqm

Parking:

5 spaces on title plus street and driveway parking

Lease term:

nitial five year lease plus a five year option commencing on 5/1/09.

Tenant:

A franchisee of a national women's health and fitness chain.

Outgoings:

Fully payable by the Lessee.

Rental:

$40,171 pa net + GST

Rental Review:

Annual to greater of CPI or 4%

Depreciation allowance:

A building depreciation allowance is available to purchasers. (Allowance may vary depending on the individual circumstances of a purchaser and are offered as a guide only; purchasers should obtain independent financial advice according to their circumstances)

Price:

Reduced to $475,000 excluding GST (GST not applicable if purchased as a leased “going concern”)
Initial yield: 8.45+ % pa, increasing to well over 9% (est.) on a pre-tax basis.