23/26 Sharpe Avenue

Pegs Creek WA 6714

Lot 178 and 179 at 26 Sharpe Avenue, Karratha presents an opportunity for investors to purchase leased hospitality investments in Central Karratha the economic powerhouse of Australia. They are three ground floor, commercial strata units contained within a large-scale mixed-use development known as Pelago East. Offer No.1 is lot 178, 26 Sharpe AvenueAsking price: $667,000 (Going Concern)Tenant: Stadium 26NLA: 110sqm + 27sqm alfrescoCommencement: 1 May 2023Expiry: 11 December 2029Annual Rent (Net) $51,700pa + GSTRental Reviews: Fixed 3% review annually except for market review at commencement of further termOutgoings: All outgoings are payable by tenant excluding property managementComment: Stadium 26 is Karratha's number 1 sports bar featuring 20 screens and 20 taps serving up tasty food and the best range of cold drinks, draughts and craftsOffer No 2 is lot 179, 26 Sharpe AvenueAsking price: $2,294,000 (Going Concern)Tenant: Stadium 26NLA: 352sqmCommencement: 15 December 2019Expiry: 11 December 2029Annual Rent (Net) $177,830pa + GSTRental Reviews: Fixed 3% review annually except for market review at commencement of further termOutgoings: All outgoings are payable by tenant excluding property managementComment: Stadium 26 is Karratha's number 1 sports bar featuring 20 screens and 20 taps serving up tasty food and the best range of cold drinks, draughts and craftsKarratha Economy:In addition to oil and gas the City's other largest industry output comes from the mining industry, which contributes approximately 62% of total output. Unlike other mining towns in the region, the city's economy is underpinned by exports and oil and gas processing operations. The city has four busy industrial ports and 231ha of industrial land, with 507ha planned for future use. The Karratha economy generates an estimated $16.3 billion in output. Karratha represents 17.9% of the $90.990 billion output generated in Pilbara Region, 2.4% of the $678.2 billion output generated in Western Australia, and 0.4% of the $4.200 trillion output generated in Australia. The Karratha economy supports an estimated 14,910 jobs, representing 24.9% of the 59,782 people working in Pilbara Region, 1.1% of the 1,308,799 people working in Western Australia, and 0.1% of the 12,049,411 people working in Australia. Karratha, the centre of the Pibara region contains the highest number of jobs. This mining sector is also the largest employer with 4,755 jobs which represents 31.89% of total employment within the region. The construction industry has the largest number of total registered businesses in the city (21.9 per cent). It is estimated resident population for Karratha is forecast to increase by 1.43 per cent each year to 31,657 people with the period of largest growth is expected to occur between 2021 and 2026, when the population is forecast to increase by 4,179 people. For more information, contact the Agent:Brett WilkinsRWC (WA)M: 0478 611 168E: brett.wilkins@raywhite.com*Approximately