PROPERTY ACQUISITION
Property Description Located within the Mackay CBD and fronting Tennyson Street, the Property is a modern office building constructed in 2008 providing 1,778 sqm of office accommodation, configured into three tenancies across two levels, and includes 36 parking bays (1:50sqm). The building has recently undergone a $2 million upgrade to provide a high standard of office accommodation for the Mackay Child Safety Service Centre, which is specialised to suit their long-term operational requirements.
These include: • Dedicated secure secondary access at the rear of the tenancy; • Dedicated secure Car Park; • Amenities reconfigured to accommodate the high female staff ratio of the department; • Secure dual access meeting/interview rooms for child & staff safety; and • Other specialised security requirements including CCTV installations.
KEY METRICS Net Passing Income (Financial Close)
9 TENNYSON STREET, MACKAY Real Property Description
Lot 4 on Survey Plan 204888
Base Rent
$639,100
Property Type
Commercial Office
Outgoing Recovery
$28,775
Lettable Area
1,778 sqm
Total Gross Income
$667,875
Site Area
2,008 sqm
Less Outgoings
($118,916)
Car Parking
36 bays
Net Passing Income
$548,959
Low Impact Industry, Mackay Regional Planning Scheme 2017
Zoning
Occupancy
100%
NABERS Energy Rating
5 Stars (Excellent)
WALE (by income)
4.70 years
Purchase Price
$6,625,000 (GST free – going concern)
Passing Yield
8.29%
Forecast Distribution (Year 1)
8.25% net p.a. (paid monthly)
Forecast Distribution (5 Year Average)
8.65% net p.a. (paid monthly)
QUANTA TENNYSON STREET OFFICE TRUST | Information Memorandum
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