Prime Westpac Bank Investment

8 Chapman Road, Geraldton WA

Property Highlights

Recently renewed lease to 2029
Tenant pays all usual outgoings
Fixed 3% rent increases
Register to Bid

Description

+ Recently renewed lease to December 2029 plus options
+ Westpac Banking Corp: One of Australia’s largest providers of financial services with a market cap of $94.32B (ASX:WBC).
+ Tenant pays all usual outgoings as per lease including Land Tax.
+ Guaranteed rental growth with annual fixed 3% rent increases.
+ Excellent tax saving depreciation benefits
+ Direct access via Chapman Road, a major Geraldton arterial road servicing an average of 14,000+ vehicles per day.**
+ Immaculate 312sqm premises in strategic retail/finance precinct including ANZ, CBA, NAB, and BOQ.
+ Perfect position opposite the entrance to Stirlings Central, one of Geraldton’s largest shopping centres, anchored by Woolworth, Best and Less, BWS, Reject Shop and 35 specialty retailer.
+ Surrounded by important social infrastructure including 11 schools within 2km servicing a combined 4,401 full time students.**
+ Conveniently situated within close proximity to various high-profile tenants – IGA, Harvey Norman, Cotton On, Cellarbrations, Vinnies and various fast-food restaurants all within 300 metres.
+ Geraldton: Major economic, Mining, Tourism, Aquaculture & Agriculture Hub including Australia’s largest grain export terminal. By 2036, the City of Geraldton’s population is forecast to grow 47% to 56,103.***
+ Strategic essential service investment.
+ Net Income: $143,286 pa + GST

For Sale by Investment Portfolio Auction
11am (AEST) Thursday 30 September 2021

**GapMaps
***Forecast.id

*All areas and figures approx only. All boundaries are indicative only. All precaution has been taken to establish the accuracy of all information but does not constitute any representation by the Vendor or Agents.

Property Details

Listing
Sale
Current Tenant
Tenanted
Occupancy Type
Bank
Land Size
312 SQM
Building Area
312 SQM

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