11 Sep 2019
LONGSTANDING lease agreements with national tenants will bankroll a buyer’s investment in a pair of prime industrial properties which go to auction in September.
The pair of impressive tiltpanel warehouse showrooms are occupied by Midas and Nisbets on long, secure leases, giving buyers the security of a regular income stream.
The warehouses at 9-11 Curtis St, Belmont, are about 10 years old and occupy a 1378sq m site that occupies a space adjoining Settlement Rd, where rear access is also provided.
Darcy Jarman, Geelong West agent Simon Jarman said it was no surprise that interest in the property has been strong ahead of the September 18 auction.
“It’s an exceptionally well located property in an industrial and commercial location only a few kilometres outside of the CBD,” he said.
“It’s as good as you’ll get from an industrial investment point of view, given that location has become a commercial location.”
The property is central to a thriving commercial-industrial hub, with neighbouring national brand businesses including Kennards Hire, Anaconda, Clark Rubber, Spotlight and Mercedes Benz.
Price hopes are in the low $2 million range.
The property offers a total income of $127,000.
A large apron surrounding the property has nine on-site car parks.
Both warehouses are in excellent condition, comprising open-plan warehouse areas, plus office/reception, disabled toilet and kitchenette areas.