A rare opportunity for the astute investor to capitalise on one of the fastest growing markets in Australia. Construction is complete, the retail spaces on the ground floor are being filled and very few residential units are vacant.
The property: The Developer is ready to move forward to another project and has enlisted Ray White Commercial Northern Corridor Group to present five, two bedroom units all of which are well appointed and completed with top of the line fixture and fittings including air conditioning. All five units are tenanted or have twelve month rental guarantees attached to them. Each unit is a generous 74m2 and comes with an exclusive & secure car space. The building itself comprises twenty four two bedroom units and five retail units facing Whites Rd. An internal lift and staircase connects the foyer to the upstairs dwellings.
The numbers: Lease them as whole units or capitalise on the location. Petrie Station and the new multi million dollar University of the Sunshine Coast campus are located at the end of the road providing the perfect opportunity to lease the rooms individually as university accommodation. The current setup will provide an income of $85,800 per annum. However conversion to student accommodation makes the sky the limit.
The location: As the first new project under construction in the Mill Central Precinct of The Mill Priority Redevelopment Area, this project is centrally located in the heart of the Petrie Town Centre as well as the proposed future Mill Central area envisioned by the Moreton Bay Regional Council (please request Due Diligence Pack to view all council planning for the area and 'The Mill' development already under construction across the road). Current projections are a requirement to accommodate 10,000 students by 2030 growing to 20,000 at full operation. It is needless to say the capital growth on this investment will far exceed expectations.
To arrange an inspection or for more information please call Luke Hobman or Brocke Hambrecht.
For more details, please email agent