15 Russell StreetBatemans Bay NSW 2536
Property Details for 15 Russell St, Batemans Bay
Last Listing description (September 2024)
Located in a prime position in Batemans Bay, this property provides an opportunity to acquire a quality commercial asset. With a land size of 839sqm and with a blue-chip tenant who has been in place for 20 years, this property boasts excellent value.
The property provides an open plan workshop, office and meeting room, shower and toilet and some mezzanine storage. There is a parking bay for trucks to pull in for pick-ups.
Currently leased by Bluescope Lysaght until the end of October 2026, this property has a guaranteed income stream with current rental revenue of $91,823.06 plus GST per annum, equating to a yield of 6% and annual review of rent. Annual rent review 3% per annum. There are also three option periods of three years per option.
Industrial properties which have quality tenants and strong leases in place are in strong demand, and with a limited supply of quality industrial opportunities, and no further potential land earmarked for industrial development close to Batemans Bay, this is a unique opportunity not to be missed. If you are an investor seeking to add a good quality property to your portfolio or superfund, contact us to arrange an inspection.
Features include:
- 839m2 land size
- Parking bay for truck pick-ups
- Open plan workshop with office, shower, and toilet
- Total of 4 reverse cycle air-conditioning units (2 in the main office, 1 in the new upstairs office and 1 in the conference room) plus a ceiling fan in the upstairs office
- Lease expiring end October 2026 with three further options of three years each
- Guaranteed income stream of 91,823.06 plus GST per annum with annual review of rent
- Potential yield of 6% based on current rental agreement
- The landlord pays the building insurance and land tax (if terms of the lease are met and building insurance can be recovered)
- GST is collected by the landlord
- Tenant pays 100% of the outgoings (electricity, water usage and rates) in accordance with the lease
Property History for 15 Russell St, Batemans Bay, NSW 2536
- 13 Sep 2024Sold for $1,510,000
- 16 Jul 2024Listed for Sale $1,580,000
- 01 Oct 2023Sold
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0About Batemans Bay 2536
The size of Batemans Bay is approximately 34.6 square kilometres. It has 8 parks covering nearly 95.5% of total area. The population of Batemans Bay in 2011 was 1,432 people. By 2016 the population was 1,518 showing a population growth of 6.0% in the area during that time. The predominant age group in Batemans Bay is 60-69 years. Households in Batemans Bay are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Batemans Bay work in a sales workers occupation. In 2011, 38.3% of the homes in Batemans Bay were owner-occupied compared with 37.5% in 2016.
Batemans Bay has 2,039 properties. Over the last 5 years, Houses in Batemans Bay have seen a 59.70% increase in median value, while Units have seen a 74.91% increase. As at 31 August 2024:
- The median value for Houses in Batemans Bay is $640,876 while the median value for Units is $532,250.
- Houses have a median rent of $450 while Units have a median rent of $400.
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