Issue 24 | The Property Development Review

Property Listings

QLD

PRIME DEVELOPMENT SITE - MIXED USE CURRENT TENANTED INVESTMENT

FOR SALE

106 NEBO ROAD & 332 BRIDGE ROAD, WEST MACKAY, 4740 BLACKS REAL ESTATE ARE PROUD TO PRESENT 106 NEBO ROAD AND 332 BRIDGE ROAD, WEST MACKAY. THE PROPERTY CURRENTLY CONSISTS OF A RETAIL SHOPPING CENTRE WITH 8 TENANTS, IN ONE OF MACKAY’S MOST PROMINENT CORNER LOCATIONS.

This 6,164m 2 block is located directly on Nebo Road, one of the main arterial entrances into Mackay when travelling North or South along the Bruce Highway. The property is improved with 3 separate buildings with a total lettable area of 1,415m 2 and also includes prime vacant block of land (approx. 1,000m 2 ) with direct access to Bridge Road. The property has approx. 70 onsite car parks exclusive to this site. The current owners had approval with the following Development Approval Summary: • Multi Storey Residential (89 rooms) • Catering • Catering Shop (Liquor Barn) • Approval – Mackay Regional Council • Development Approval was granted through a Decision Notice (application number DA-2015-158) issued 14 November 2016 valid for

4 years (applications currently in place for extensions of these approvals). The 2 commercial / retail buildings are fully leased with quality long term tenants and there is a vacant warehouse / shed at the rear of the property. Current income covers all outgoings and provides a net income to owners, while they are planning Development. 6 of the 8 tenants have the leases expiring in 2024, 2025 and 2026, providing secure leased tenanted income until the leases expire. ***Disclaimer: The agent and seller do not give any warranty as to errors or omissions, if any, in these particulars. The provided information can be deemed reliable but not accurate. Any persons interested in the property should conduct their own research.

CONTACT: Ellen Everett 0408 017 917 eeverett@blacksrealestate.com.au | Greg Lewis on 0418 776 855 glewis@blacksrealestate.com.au

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