Multi-tenanted Townsville CBD Investment Property

Denham Arcade is a well-known landmark from yesteryear in the Townsville's CBD housing various medical, office, retail and service-related businesses.
Four individual strata titled lots, configured as five tenancies are now offered to the market, subject to leases producing a gross income of $67,875.44 per annum + GST.

The property produces a current net income of $31,268.40 per year + GST, with one vacancy which is capable of producing an additional $15,000 per year or could be occupied by the owner.

The potential fully leased net income is $46,268.40.

- Suite 5 (43 m2): Leased to Sea Turtle Foundation at $9,600 per year + GST.
- Suite 6 (36 m2): Vacant and offered for lease at $15,000 per year + GST.
- Suite 7a (54 m2): Leased to Shane Chambers Dental at $15,276.96 per year + GST.
- Suite 7b (53 m2): Leased to Eraza Laser Clinic at $13,788.48 per year + GST.
- Suite 8 (127 m2): Leased to Betty Blue Cafe at $29,210 per year + GST.

The property will benefit from future rental growth in a recovering CBD market.

Major works have been carried out to modernise the arcade including a full refurbishment of the common areas and bathrooms in 2014 and a new roof installed late 2018.

For further information or to arrange an inspection please contact Ray White Commercial today.

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