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SOLD - Mount Isa - Genuine High Yielding Opportunity - NAB in Occupation 30+ Years
7 Miles Street Mount Isa QLD 4825
Investments
Investment
Property No.
Key Property Highlights
| Building Area | 436 sqm |
|---|---|
| Land Area | 1012 sqm |
| Parking | 10 onsite car parks |
| Listing Status | Sold |
Cushman & Wakefield is pleased to present to the market 7 Miles Street, Mount Isa for Sale via Auction.
The property has the following key characteristics:
- Renewed 5 year net lease to 2024 + option to 2029
- National Australia Bank Ltd (NAB) - ASX listed ‘Big Four’ bank with 900+ locations serving over 9 million customers. Market Cap. $93.37 Billion
- Essential NAB Business Banking location for 30+ years, serving Australia’s integral resources sector
- Mount Isa plays a significant role in Australia’s resources sector and accordingly NAB has provided strong commitment & support to Mount Isa as an economy by renewing this Lease as a Net Lease & on 5 yearly intervals, given most NAB leases are on rolling 3 year renewals
- Strategic 1,012 sqm site in Mount Isa’s CBD, surrounded by national retailers including Woolworths, Coles, BCF, Bunnings, Domino’s, Kmart, Caltex & United
- Significant 436 sqm two storey building with 20m frontage to Miles Street, 10 car parks onsite & recently upgraded facade & ATM facilities
- Mount Isa - Administrative, commercial & industrial centre for QLD’s North West, set to directly benefit from $2.2 Billion of infrastructure projects - population 22,000+
- Mount Isa Mines - One of the world’s largest & most productive mining complexes, in operation for 97 years
- Net Lease - Tenant pays outgoings as per lease
- Affordable genuine high yielding opportunity - Pre-Auction offers considered
- Fixed 3% annual rent increases
- Net Income $101,515 pa + GST
The property is for sale by way of Cushman & Wakefield Investment Auction on Thursday 25 November at 11am AEDT. The Auction will be held at Doltone House Hyde Park, located on Level 3/181 Elizabeth Street, Sydney.
Prospective purchasers & interested parties will have access to remote bidding facilities in both Brisbane & Melbourne as well as via our Live Stream & Online Bidding Platform, strictly via prior arrangement.
Please contact the exclusively appointed Cushman & Wakefield property professionals for more information.