Fully Leased Medical and Professional Service Investment

Burgess Rawson are delighted to exclusively offer for Sale by Auction this exceptional fully leased investment. encompassing the whole ground floor of the Otto building.

Located within Mermaid Beach, Otto combines a fusion of urban and beach living makes it the envy of the Gold Coast. Surrounded by restaurants, boutique cafés and the vibrant Nobby Beach retail and dining precinct, here surf culture and contemporary entertainment collide.

Otto Mermaid Beach is a prestige exclusive development of 70 apartments, each of which aims to encapsulate the lifestyle of Mermaid Beach, a beachside suburb of the Gold Coast featuring premium real estate, some of the most exclusive and sought-after property on the Gold Coast.

+ As New building with average 8.5 year leases
+ Fixed 3%, 3.5% & 4% rent increases
+ Diversified mix of tenants include Dental Surgery, Laser Clinic, Radiology & H & R Block Tax Accountants
+ Prominent corner opposite soon to be extended Light Rail with 45,000 vehicles passing daily
+ Building area: 474 sqm
+ 22 on title carparks
+ Gold Coast: Australia’s largest tourist mecca with GDP of $35b+ and 4.4% pa average growth
+ Catchment population of 635,191, estimated 1 million growth by 2050

Lessee: H & R Block Pty Limited
Lease Term: 3 Years
Lease Commencement: 19/02/2021
Lease Expiry: 18/02/2024
Increases: 3.5% pa

Lessee: Dua & Belle Pty Ltd
Lease Term: 6 Years
Lease Commencement: 12/07/2021
Lease Expiry: 11/07/2027
Options: 2 x 5 Years
Increases: 3% pa

Lessee: CDC Mermaid Plaza Dental Care Pty Ltd
Lease Term: 15 Years
Lease Commencement:20/01/2020
Lease Expiry: 19/01/2035
Increases: 4 % pa

Lessee: Mermaid Molecular Imaging
Lease Term: 10 Years
Lease Commencement: 15/01/2022
Lease Expiry: 14/01/2032
Options: 1 x 5 Years
Increases: 3 % pa

Net Income: $304,763 pa + GST

For Sale by Investment Portfolio Auction
10:30am (AEST) Thursday 24 February 2022
The Hilton Brisbane