INFORMATION SUMMARY
55 LOWER KING STREET CABOOLTURE QLD 4510 Prepared by Ray White Commercial North Coast Central FOR SALE
THE OPPORTUNITY Ray White Commercial North Coast Central is pleased to offer 55 Lower King Street, Caboolture for sale. The opportunity exists to purchase this tenanted investment asset, located on the Caboolture CBD fringe. Key Features: - Modern two-story, 15 room Back Packers with 120 bed capacity - Prominent location, within the Caboolture Centre Incentives Area - Tightly held accommodation market - Leased to September 2019 with 3 x 3 year options - $250,000* per annum net income - $68,750.00 Bank guarantee - Solar Power * Approximately
PROPERTY DETAILS The Property
55 Lower King Street, Caboolture
Location
Located in one of the fastest growing shires in the Country (based on domestic migration)
Property Description
Lot 4 on RP14002
Title Reference
14841180
Local Authority
Moreton Bay Regional Council General Residential – Urban Neighbourhood •
Zoning
• •
Medium and high-density housing including apartments, duplexes, row or terrace housing, townhouses and managed communities Minimum site density of 45 dwellings per hectare (75 dwellings per hectare in particular localities) Building height between 8.5 metres and 27 metres
www.moretonbay.qld.gov.au Net Income
$250,000 per annum
Sale Price
Offers over $2,300,000.00
TENANCY INFORMATION Tenant
Brother Backpackers Pty Ltd
Land Size
1,009m2
Rent
$250,000.00 net Per Annum
Lease Term
25 Months
Lease Commencement
1 September 2017
Lease Expiry
30 September 2019
Increases
Fixed 3% annually Rates – $2,511.48* Water – $15,500.00*
Outgoings Estimate
Insurance – $7,958.78* Total Outgoings: $25,970.26* per annum *Approximate and as supplied by the Vendor
Caboolture Backpackers Established in 2015, Caboolture Back Packers is the only Backpackers in town and caters for a large number of travelers from overseas who work on the strawberry farms in Moreton Bay to fulfill their Visa requirements. The 94 bed backpackers is very affordable and has all necessary amenities. It is located just a short walk to Caboolture Train & Bus Station as well as the local Caboolture Square Shopping Centre.
PLANS
PLANS continued
PLANS continued
LOCATION
Subject property
CABOOLTURE WEST MASTERPLAN Morayfield adjoins the recently announced Caboolture West Masterplanned Area: “Caboolture West is the new proposed location for the region’s next Master Planned residential community. The site has been declared as a Master Plan area by the State Government and work is underway on the planning framework. Council is presently in discussions with the State Government regarding the provision of infrastructure to service the development. It is anticipated that the area would have a 40-year development horizon and would ultimately accommodate up to 70,000 new residents. The area would include up to seven new suburbs, three high schools, nine primary schools and new commercial and industrial areas. The net benefit to the community from the development is expected to be in excess of $10 billion.”
Caboolture West Declared Master Planned Area
SUBURB PROFILE The Moreton Bay Region is the fastest growing shire in Australia
REGIONAL MIGRATION 2014/2015 Arrival no.Departure no.Net no. Moreton Bay (QLD)
27823
22225
5598
Wyndham (Vic)
16085
11325
4760
Sunshine Coast (QLD)
20840
16108
4732
Gold Coast (QLD)
30637
26145
4492
Whittlesea (Vic)
11938
8270
3668
Carinia (Vic)
8508
5643
2865
Casey (Vic)
20235
17598
2637
Melton (Vic)
9937
7407
2530
Camden (NSW)
6522
4035
2487
Swan (WA)
12083
9636
2447
*Australian Bureau of Statistics The Moreton Bay Region comprises the former Caboolture and Pine Rivers Shires, and Redcliffe City, and covers 2,037 square kilometres. The Australian Beurau of Statistics shows as at 2014 the region had a population of 417,137 persons, the third largest local government population in Australia (following Brisbane and the Gold Coast). The urban corridor extending from Brisbane City in the south to the Sunshine Coast to the north is expected to grow by approximately 300,000 people over the next 20+ years. The Moreton Bay Region is expected to accommodate at least half of this projected growth.
www.economicprofile.com.au/moretonbay/trends/population
PHOTOS
LEGAL INFORMATION The information contained in this Information Memorandum and any other verbal or written information given in respect of the property (“Information”) is provided to the recipient (“you”) on the following conditions: Cecil Healy Pty Ltd (A.C.N 98 933 833 870 trading as Ray White Commercial North Coast Central and or any of its officers, employees or consultants (“we, us”) make no representation, warranty or guarantee, that the Information, whether or not in writing, is complete, accurate or balanced. Some information has been obtained from third parties and has not been independently verified. Accordingly, no warranty, representation or undertaking, whether express or implied, is made and no responsibility is accepted by us as to the accuracy of any part of this, or any further information supplied by or on our behalf, whether orally or in writing. All visual images (including but not limited to plans, photographs, specifications, artist impressions) are indicative only and are subject to change. Any measurement noted is indicative and not to scale. All outlines on photographs are indicative only. The Information does not constitute, and should not be considered as, a recommendation in relation to the purchase of the property or a solicitation or offer to sell the property or a contract of sale for the property. You should satisfy yourself as to the accuracy and completeness of the Information through your own inspections, surveys, enquiries, and searches by your own independent consultants, and we recommend that you obtain independent legal, financial and taxation advice. This includes as to whether any listing price is inclusive or exclusive of GST. We are not valuers and make no comment as to value. “Sold/ leased” designations show only that stock is “currently not available” – not that the property is contracted/ settled. If you require a valuation we recommend that you obtain advice from a registered valuer. The Information does not and will not form part of any contract of sale for the property. If an interested party makes an offer or signs a contract for the property, the only information, representations and warranties upon which you will be entitled to rely will be as expressly set out in such a contract. Interested parties will be responsible for meeting their own costs of participating in the sale process for the property. We will not be liable to compensate any intending purchasers for any costs or expenses incurred in reviewing, investigating or analysing any Information. We will not be liable to you (to the full extent permitted by law) for any liabilities, costs or expenses incurred in connection with the Information or subsequent sale of the property whatsoever, whether the loss or damage arises in connection with any negligence, default or lack of care on our part. No person is authorised to give information other than the Information in this Information Memorandum or in another brochure or document authorised by us. Any statement or representation by an officer, agent, supplier, customer, relative or employee of the vendor will not be binding on the vendor or us. To the extent that any of the above paragraphs may be construed as being a contravention of any law of the State or the Commonwealth, such paragraphs should be read down, severed or both as the case may require and the remaining paragraphs shall continue to have full force and effect. You may not discuss the Information or the proposed sale of the property with the vendors or with any agent, friend, associate or relative of the vendor or any other person connected with the vendor without our prior written consent. We accept no responsibility or liability to any other party who might use or rely upon this report in whole or part of its contents. The Information must not be reproduced, transmitted or otherwise made available to any other person without our prior written consent.