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Sold on 11 Oct 2024 for $2,400,000

66 Cranbrook Road
Batemans Bay NSW 2536

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 2673m2
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Blackshaw Coastal
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Property Details for 66 Cranbrook Rd, Batemans Bay

Building Type
Commercial
Land Size
2673m2
Local Government
Eurobodalla
Lot/Plan
16/DP1101727

Last Listing description (October 2024)

Located in a prime position in Batemans Bay, this outstanding industrial property presents a rare opportunity to secure a versatile and highly sought-after asset. With a land size of 2,673sqm, this property boasts excellent parking facilities, a large building with forklift area, office, kitchenette, shower, and toilets, as well as a high carport at the side of the main building.

Currently leased by Australia Post. This property has a guaranteed income stream with current rental revenue of $165,036.22 plus GST per annum, equating to a yield of 6%. There is presently a Variation of Lease in the registration process which will extend the term to May 2029.

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:

- 2673m2 of good level land
- Excellent parking facilities
- Large shed with office, kitchen, shower, and toilet
- Ducted heating and cooling
- High carport at the side of the main building
- New five-year lease expiring May 2029 (in registration process)
- Guaranteed income stream of $165,036.22 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
- GST is collected by the landlord
- Tenant pays the outgoings (electricity, water usage and rates)

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Property History for 66 Cranbrook Rd, Batemans Bay, NSW 2536

A timeline of how this property has performed in the market
Last Sold
$2,400,000
11 Oct 2024
  • 11 Oct 2024
    Sold for $2,400,000
  • 16 Jul 2024
    Listed for Sale $2,400,000
  • 01 Oct 2023
    Sold
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About 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 2,033 properties. Over the last 5 years, Houses in Batemans Bay have seen a 62.14% increase in median value, while Units have seen a 72.75% increase. As at 30 September 2024:

  • The median value for Houses in Batemans Bay is $644,332 while the median value for Units is $513,881.
  • Houses have a median rent of $450 while Units have a median rent of $400.
There are currently 38 properties listed for sale, and 8 properties listed for rent in Batemans bay on OnTheHouse. According to CoreLogic's data, 61 properties were sold in the past 12 months in Batemans bay.

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