Landmark Freehold Opportunity – Circa 8.5% Net
112 Main Road, Exeter
- Land area approx 1306sqm
- Floor area approx 937sqm
A rare opportunity to secure a closely held retail site in Exeter. Comprising 3 tenancies, with the core tenant, Freeland's IGA Xpress, having occupied the site since 1969.
Secure leases in place over 3 tenancies. Supermarket leased for 5 years with 5 year option. Australia Post outlet recently leased on a 5 plus 5 basis. Residential apartment on level one leased. Approximately 580m2 of Floor area on the ground floor (combined). Residential Unit comprises approximately 107m2. Land area comprises approximately 1,120m2 plus common area. Net Rental Income approximately $108,000 p.a. Current outgoings approx. $18,000. Off Street parking for 15+ vehicles, and separate loading bay.
Recent Upgrades/Improvements include:
Re-Roofing, fascia and guttering. Asbestos removal. Switchboard upgrades. New toilet/amenities areas.
- Nearby Government Schools