20 & 22-26 East Street
Rockhampton City Qld 4700
Price: $2,000,000
Property Description

YOUR HOLDING COSTS ARE COVERED here with 5 periodic month-to-month leases!

CHAN DE SILVA with Jacqui Walker presents this significant HALF-ACRE MIXED-USE DEVELOPMENT SITE on an IMPORTANT STREET NEAR THE RIVER in Rockhampton City.

THE ASSET:

– 4 buildings across 2 titles, selling altogether
– Capital outlay: $2 million
– Holding costs covered: Yes, with 5 periodic month-to-month leases
– Monthly income: $7,896.00 per month
– Gross rent return: 4.73% p.a.

– Scope: build up to 12 floors (STCA)
– Strategy for highest yield: create mixed use retail, office and accommodation (STCA)
– Nearby development precedent: albeit a wider lot, the new Empire Hotel Apartment Complex

– Orientation: desirable north-east site, in direction of Fitzroy River
– Bearings: Queen Street location, between Neville Hewitt Bridge (Bruce Highway) and Fitzroy Bridge

PER EVIDENCE BELOW, Rockhampton is experiencing continued infrastructure expansion and price growth – significantly enhancing all prospects for the commercial developer of this HALF-ACRE site.

HOLDING COST INCOME AND OUTGOINGS:

– Total current periodic lease income: $7,896.00 per month
— 20 East: 1 periodic lease, $1,270.00 per month
— 22-26 East: 4 period leases, total $6,626.00 per month

– Gross rent return: 4.73% p.a.

– Recent General Rates:
— 20 East: $2,706.15 net 1/2 yr inc water access, exc consumption
— 22-26 East: $8,701.05 net 1/2 yr inc water access, exc consumption

– Scope to increase periodic rents? Yes
– Scope to transition periodic leases to fixed terms? Yes

USEFUL SPECS:

– Total land area: 2,148 sq metres
— 20 East: 453 sq metres, corner East Lane
— 22-26 East: 1,695 sq metres
– Combined allotment dimensions: 42.8m frontage x 50.3m deep along East Lane

– Current total floor area: 1,300 sq metres

– Current land use both sites: Secondary Retail (Fringe CBD)
– Current zoning: Central Business District Commercial Area, Precinct 2

– Will owner separate titles? No
– GST applicable on sale? No

NEARBY:

– Diagonally opposite new Empire Hotel Apartment Complex
– Angle parking to front of site
– Landscaped median strip to Queen Street
– Additional nearby shops include Gym, 2 cafes, and an Australian Senator’s electorate office on ground floor of large office building
– 180m to foreshore of Fitzroy River on Victoria Parade
– 350m to Coles and Target at City Centre Plaza

COMMERCIAL INVESTORS, Rockhampton is thriving:

– Airport: 20 year Airport Masterplan released
– Correctional Centre: $241 million expansion resulting in 348 new cells and 130 extra full-time permanent jobs at the prison; 4 year project due for completion 2022
– Defence: a $2 billion initiative will provide increased access to Australian military training areas for the Singapore Armed Forces, with approx $1 billion in work anticipated until 2025
– Footpaths: Almost 2.5km of footpaths have been constructed in the Rockhampton region within the past 2 years
– Wind and Solar Farm: State and Federal environmental approvals complete for $1.5 billion project combining up to 195 turbines, solar power and battery energy storage facilities to power approx 590,000 Qld homes; will be based in the Clarke Creek area approximately 150km north-west of Rockhampton

CAPTURING a value-adding rare laneway CORNER and 2 title IMPORTANT STREET FRONTAGE of 42.8 metres – with excellent scope for a potential MIXED-USE DEVELOPMENT and your HOLDING COST INCOME COVERED – this East Street site represents a premiere opportunity for Mixed-Use Commercial Developers.

FOR YOUR CONVENIENCE, Chan De Silva is standing by to discuss this opportunity. ACQUIRE TODAY, HOLD WITH COSTS COVERED, DEVELOP AND GAIN!

***USEFUL INFO compliments of Chan De Silva with Jacqui Walker:

– Easements and RPD:
— 20 East known as Lot 1 on Registered Plan 606311
—— Easement No 601004079 (C153173) benefiting the land, placed 1951
—— Easement No 601004080 (C153174) benefiting the land, placed 1951
— 22-26 East known as Lot 2 on Registered Plan 603796
—— Easement No 601004079 (C153173) benefiting the land, placed 1951
—— Easement No 601004080 (C153174) benefiting the land, placed 1951

– Disclaimer: All care taken, however you are encouraged to independently verify all figures, measurements and indications.

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