Why this building is tipped to fire up investors
INVESTOR bidding for the National Australia Bank building in Kingaroy is set to be fierce as it goes under the hammer interstate next month, at Burgess Rawson’s final Portfolio Auction of the year.
The prime blue-chip investment is currently secured by the Top 6 ASX- listed company on a five-year lease until March 2023, with the option of extending a further 10 years.
According to Burgess Rawson sales and leasing executive Craig Chapman, the asset is sure to attract astute buyers looking to expand their property portfolios with a secure regional investment.
“Affordable investment opportunities with top-tier ASX-listed company tenants such as NAB rarely become available for sale, particularly within established regional town centres, so we certainly expect this unique offering to be hotly contested,” Mr Chapman said.
“Kingaroy is the South Burnett region’s commercial centre and largest town, boasting everything from key shopping facilities and services, to various accommodation offerings and a range of restaurants and fast-food outlets – cementing it as a strong regional investment location.
“As a big four bank, NAB is a dream tenant for a commercial investment, particularly in a regional shire that services a broader catchment of 12,500 residents.”
The 726sq m asset offers the potential buyer a net income of $94,760 per annum plus GST in addition to fixed 3 per cent annual rent increases, assuring growth.
The 206 Kingaroy St asset will go to auction on Tuesday, December 10 at Burgess Rawson’s Flagship Portfolio Auction at Sydney’s Doltone House, Hyde Park.