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Superior Regional Investment - King Arcade Grafton

22-26 King Street, GRAFTON NSW, 2460

For Sale

Property for Sale in 22-26 King Street, GRAFTON NSW, 2460

Listing ID:
9401990
Status:
Active
For:
Sale
Price:
$2,800,000
Last Updated:
25/10/2019
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Property Type

Offices/Retail
Icon square

Land Area

1805 SQM
Icon size

Floor Area

N/A
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Parking

0

Superior Regional Investment - King Arcade Grafton

The King Arcade is a single level retail and office complex in the CBD of Grafton. It was constructed in the early 1980's and has generated a very strong and consistent rental income stream over its 33 years of life. It is situated opposite the Grafton Mall and provides a direct link from King St to the main retail strip of Grafton (ie) Prince St.
There is a diverse mix of nine tenancies that include health care professionals, hairdresser, beauty and skin care therapists, accountant, employment recruitment agencies, the Australian Electoral Commission, Indigenous Business Association and North Coast Community Housing.
Some of the tenants boast residency since the inception of the Arcade.
Four of the tenancies have direct King St frontage with the remaining five accessed from the central arcade. The arcade is fully tiled, air-conditioned, nice and wide and filled with natural light via the central atrium. Automatic glass doors provide for easy pedestrian access from both the front and rear. There is a common amenities block within the arcade however some of the tenancies have had further facilities installed within their own premises.
The arcade is 100% occupied and has a history of very minimal vacancies. Tenancy sizes range from 78 square metres up to 156 square metres. The size of the shops has been critical to the success of the arcade over the years. Smaller size commercial tenancies such as these are always in strong demand in the Grafton market place and readily filled.
Predominantly the leases are gross rent leases with the landlord covering most of the outgoings, but the costs of same has been factored into the gross rental amounts.

For more details, please email agent

First National Real Estate Ford & Dougherty

15 Prince Street, Grafton, NSW 2460


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