Property listing ID: 4073865
What’s the twist? There is a market rent review due August 2025, and there is a big upside in the rent. Also, the current term of the lease runs through to the final expiry in April 2027, where you could look to occupy or rent if you wish. The net lettable area is approximately 602m², comprising a high-stud warehouse and tidy office over two levels. The construction materials include concrete block walls, concrete foundations, steel portal frames, and long run iron roof with new skylights. This property sits on Hugo Johnston Drive, which is considered one of the best streets in the Penrose area with high-quality buildings and tenants and fantastic access to the motorway. This opportunity could suit a long-term investor or a future owner-occupier looking for a property that has the right fundamentals. KEY FEATURES: • 602m² total building area • Built in the late 1980s • Seven metre stud height in the warehouse • Eight car parks • Current rent $104,000 + GST per annum • Market rent review in August 2025 • Heavy Industry zoning • Final lease expiry in 2027 • Container drop and good car parking • Premium industrial location For all information and viewings, please contact the listing agents today.
Listed by Barfoot & Thompson , Nick Wilson (City Commercial) , James Marshall (City Commercial)