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5 Corio Street Kawana
Outstanding 10.28ha investment and value add opportunity
Colliers Brisbane and PRDnationwide Commercial Wide Bay are pleased to present this outstanding 10.28ha investment and value add opportunity that offers both long term investment income with immediate development upside.
Long term tenant Mining Equipment Maintenance lease 6.9ha of the total site which includes number of substantial industrial buildings ideal for their use. The site predominantly houses a yard / hardstand storage operation and has substantial imbedded infrastructure. They have a 5 year lease running through until October 2023 with an additional 5 year option secured by both a bank guarantee (equivalent to three months’ rental + GST) and directors guarantees. The lease returns $395,200 per annum net plus GST and the applicable outgoing relating to the tenants portion of the site.
The balance 3.38ha has undergone extensive earthworks including levelling and construction of retaining walls. This part of the site is of a regular shape and it has a frontage of approximately 190 metres with the three other boundaries ranging from 150 to 180 metres. It is fully fenced and subject to obtaining any approvals that may be required for an intended use, it is ready for immediate occupation.