An investment opportunity is set to attract Mount Isa buyers when an industrial space goes under the hammer at Burgess Rawson’s Flagship March Portfolio Auction in Melbourne next week.
The 5744 sqm industrial site us at 15 Traders Way in the industrial area of Ryan and current tenants, mining company Summit Resources, boast a recently renewed secure 10-year lease with options extending to 2038 and 3% annual rent increases.
Burgess Rawson Queensland Sales and Leasing Executive, Jamie Dewe, said Mount Isa’s strength as a thriving mining town will see the property attract significant interest from commercial property investors looking to expand to their portfolios to regional areas.
“(Mount Isa) supports a growing commercial property market,” Mr Dewe said.
“Shaped by its rich mineral bounty and mining heritage, it really is a city unlike any other, and is the administrative, commercial and industrial centre for the North-West Queensland region, which we expect to cement its appeal among buyers as a unique investment.
Summit Resources has been operating in Mount Isa since 2007 and is owned by Paladin Energy, one of the world’s largest independent uranium producers.
The two-level office building includes a workshop, enclosed storage shed and an open bay storage shed spread across a large 1691 sqm building area.
The property provides a net income of $210,000 pa + GST, and will be offered for sale on Wednesday March 28 at Melbourne’s Crown Casino.
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Originally written by Derek Barry, The North West Star