553 Ruthven StreetToowoomba City QLD 4350
Property Details for 553 Ruthven St, Toowoomba City
Last Listing description (November 2023)
Michael Feltoe & Lachlan O'Keeffe are pleased to present for sale 553 Ruthven Street, Toowoomba - a freestanding single-tenanted investment leased to Cash Converters Toowoomba on a recently extended 6 year whole of land net lease.
|What|
Recently extended 6-year whole of land net lease to 2028, with the tenant responsible for all outgoings (excluding land tax)
High-profile 620sqm* building with massive exposure to over 36,900^ vehicles passing daily
Net Income of $149,647 + GST p.a.
|Where|
High-profile 808sqm* site with dual street frontage in the heart of the Toowoomba CBD, the economic heartland of Queensland's Darling Downs region with over $18 billion in ongoing developments**
Toowoomba is the 2nd largest inland city in Australia, and 6th largest city in Queensland, with a population of over 175,000 people
Surrounded by significant traffic generating amenities including Toowoomba Hospital, Toowoomba Grammar School and Grand Central Shopping Centre
|Why|
An ultra low-maintenance investment, with the tenant responsible for the day-to-day maintenance of the property
An experienced Cash Converters operator with over 36 stores across Australia
Fixed 4% Annual Reviews
ASX-listed Cash Converters are the preeminent personal finance and secondhand retail brand in Australia, with over 150 stores nationwide and over 600 stores worldwide
*Approximate
^Sitewisely
** 2022 Toowoomba Development Status Report
Property History for 553 Ruthven St, Toowoomba City, QLD 4350
- 23 Apr 2024Sold for $2,250,000
- 06 Jun 2023Listed for Sale Price on Application
- 03 May 2023Listed for Sale Auction Friday
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0About Toowoomba City 4350
The size of Toowoomba City is approximately 2.7 square kilometres. It has 9 parks covering nearly 3.8% of total area. The population of Toowoomba City in 2011 was 2,200 people. By 2016 the population was 2,093 showing a population decline of 4.9% in the area during that time. The predominant age group in Toowoomba City is 20-29 years. Households in Toowoomba City are primarily childless couples and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Toowoomba City work in a professional occupation. In 2011, 35.7% of the homes in Toowoomba City were owner-occupied compared with 34.4% in 2016.
Toowoomba City has 2,353 properties. Over the last 5 years, Houses in Toowoomba City have seen a 69.70% increase in median value, while Units have seen a 42.39% increase. As at 31 July 2024:
- The median value for Houses in Toowoomba City is $572,970 while the median value for Units is $418,284.
- Houses have a median rent of $490 while Units have a median rent of $350.
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