Found an advertisement for a commercial property in Biloela (Western Queensland – out in the sticks). 1408 sqm – has commercial workshop + residence, 3 year lease with tenant in place and 3 x 3 option. Rent $14,400 + outgoings pa. For sale at $120,000 +.
What do you guys think?[?][?][?][?]
On the surface it looks like it’s a good 12% return deal..
I have a few questions b4 I could attempt to answer this properly however..
1. How much of this is Lettable commercial space?? ie. how big is the workshop??
2. How much space is residence?
3. Is the residence being let seperately to the workshop?
4. What are the outgoings that the tennant is paying?? You may end up paying them someday.
5. Do you know what the commercial rate is in other comm properties around that area?? ie. Price per square meter?
Cheers
Calron the Alcamist
Turning things into gold is fun.
[email protected][
]Not a clue about the answers to your questions, but good questions to ask the real estate agent. Thanks heaps.
Hi Kelly
Can’t coment about Commercially but I have a couple of residential properties that I have wraped in Biloela. The town has a population of just over 5000 and nestles in the centre of the Callide Valley being the largest town in the Banana Shire. Founded in the early 1850’s it is still rich in agriculture although now a days relies on the local meatworks, coal mines and power station.
Happy to help if you need any more info.
Cheers Richard
[email protected]There is no such thing as a problem. Just a solution waiting to be found
Richard Taylor | Australia's leading private lender
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