Auctions back with a bang
A medical and government office space will be the focal point of Burgess Rawson’s flagship portfolio auction, the first since COVID-19 restrictions eased.
The modern building on 281-285 Ross River Road is occupied by long-standing and reliable tenants including Fortune 500 Insurance Broker – Arthur J Gallagher, Mater Health Services, Queensland Government and Queensland Government and Queensland Plastic Surgery, ensuring growth with favourable fixed annual increases of 3 per cent.
Burgess Rawson selling agent Doug Doyle said he expected to see a combination of interstate and local investor interest in the fully leased multi-tenanted investment.
“While some asset classes were heavily impacted by COVID-19 we have seen significant investor interest in essential service-tenanted assets post pandemic. For this property, the solid tenancy offering promises potential investors complete peace of mind,” he said.
“These are highly reliable, secure tenancies within essential service industries, with the prospective buyer set to benefit from fixed increases in addition to the annual net income of $459,548 per annum plus GST.”
The 2,428 sqm site holds a dominant position on a major arterial route to Townsville’s CBD with a 61 sqm street frontage.
The investment property is ideally located just 300m from Stockland Shopping Centre and within a government and medical precinct.
The Ross River Road property will be heading to auction at 10:30am on Wednesday 24 June at Crown Casino Melbourne.
Published in the Townsville Bulletin