Government Tenant Investment with Upside
5, Albert Street, Masterton, Masterton
- Proposed Usage
- Floor Area
- 1356.00 m²
- Auction Date
- 11:00 - May 18, 2017
- Property ID
- Long lease to government tenant
- Recently refurbished and strengthened
- 70% NBS seismic rating
- Passing Income $118,216pa + GST plus upside from vacancy
- 1,350sqm commercial building comprising two tenancies.
This unique property provides the best of both worlds - passive investment plus add value potential.
Anchored by the Department of Corrections on a long-term lease the building ensures stable passive income while the 350sqm vacant tenancy at the front of the building provides the opportunity to boost the income or provide an opportunity for an owner occupier.
The the whole building has been seismically strengthened and exterior refurbished. The Department of Corrections tenancy which is primarily office has recently received a major refurbishment with brand new fitout and HVAC system.
A genuine add value opportunity for an astute investor or owner occupier to maximise the full potential of this property.