147 Fenaughty Street for sale
THE office building at 147 Fenaughty St, Kyabram will be auctioned at Crown Casino next month after commercial real estate developers Burgess Rawson saw investment opportunity.
The 1819sq m building with 130m of triple street frontage and six car parking spaces currently earns a net annual income of $143,681 and has all tenants on renewed leases.
Noted as a high-performing property with significant returns, commercial real estate agent Beau Coulter expects a yield of nine per cent or more.
“The tenants are strong, well-established corporate tenants with good names in the Goulburn Valley region,” Mr Coulter said.
“The tenants have all been there for a long time and the offices themselves are very well maintained and in great condition. We think it will go very well.”
With a four-star energy, water and waste efficiency rating and paying tenants, Mr Coulter said Kyabram’s local industries were the reason for Kyabram’s strong commercial market.
“Kyabram commercial properties have a very low vacancy rate — they’re very tightly held,” he said.
“They feed off the Goulburn Valley, which is a major agricultural centre with fruit and also food-processing companies such as Nestlé and Heinz in the surrounding region.”
Burgess Rawson’s 133rd Portfolio Auction will be held in Crown Casino’s River Room at 11am on Wednesday, December 11.
Written by James Arbuthnott, Kyabram Free Press