20 Clare Street, Glendale
Opportunities like this are rare-an investment asset anchored by a tenant of over 25 years rarely comes to market.
| LEGAL DESCRIPTION | LOT 7 in DP285056 |
| LOCAL GOVERNMENT AREA | Lake Macquarie |
| ZONING | MU1 Mixed Use |
| SITE AREA |
712sqm |
| BUILDING AREA |
475sqm |
| NET INCOME | $112,072 + Ogs + GST PA |
| OUTGOINGS | $26,600 PA |
| SALE PROCESS | Openn Negotiation |
LOCATION
THE PROPERTY
Positioned in the heart of Glendale, the property enjoys excellent exposure and consistent passing traffic, surrounded by well-known businesses including Red Rooster, NIB, and Shell.
The building offers a versatile layout comprising showroom space, office accommodation, and two workshop bays, catering perfectly to the tenant's operational needs.
Generating a strong net income of $112,072 + GST per annum, the property is securely leased until 2028, with a further three (3) x three (3) year options. The tenant is responsible for 100% of outgoings, providing a true set-and-forget investment.
This property is being offered for sale as part of a partnership wind-up, presenting a genuine opportunity to secure a tightly held asset.
For sale by Openn Negotiation (flexible conditions online auction). The Openn Negotiation is under way and the property can sell at any time. Contact Josh Barnes immediately to become qualified and avoid disappointment.
ANNEXURE A: FLOOR PLANS
FINANCIAL SUMMARY
OUTGOINGS
| Council rates | $7,200 |
| Water rates | $1,800 |
|
Management Fees |
$5,400 |
|
Community Title Levies |
$1,800 |
|
Insurance |
$8,000 |
|
Fire Protection |
$1,600 |
|
Repairs and Maintenance |
$800 |
|
TOTAL |
$26,600 |
LEASE DETAILS
OUTGOINGS
| Lessee | V - Cad Towing & Trailer Services Pty Ltd |
| Lease Term | (3) years with 3 x (3) years option |
|
Lease Commencement |
1 March 2025 |
|
Lease Expiry |
28 February 2028 |
|
Option Term |
3 x (3) year option |
|
Rental Increases |
CPI annually. Market review at option |
|
Outgoings Payable |
100% |
TOWN PLANNING
KEY DETAILS
| Local Government Area | Newcastle City Council |
| Zoning | MU1 Mixed Use |
Zone MU1 Mixed Use
1. Objectives of zone
- To encourage a diversity of business, retail, office and light industrial land uses that generate employment opportunities.
- To ensure that new development provides diverse and active street frontages to attract pedestrian traffic and to contribute to vibrant, diverse and functional streets and public spaces.
- To minimise conflict between land uses within this zone and land uses within adjoining zones.
- To encourage business, retail, community and other non-residential land uses on the ground floor of buildings.
- To support nearby or adjacent commercial centres without adversely impacting on the viability of those centres.
2. Permitted without consent
Environmental protection works; Home occupations
3.Permitted with consent
Amusement centres; Boarding houses; Car parks; Centre-based child care facilities; Commercial premises; Community facilities; Entertainment facilities; Function centres; Information and education facilities; Light industries; Local distribution premises; Medical centres; Oyster aquaculture; Passenger transport facilities; Places of public worship; Recreation areas; Recreation facilities (indoor); Registered clubs; Respite day care centres; Restricted premises; Shop top housing; Tank-based aquaculture; Tourist and visitor accommodation; Vehicle repair stations; Any other development not specified in item 2 or 4
4. Prohibited
Agriculture; Air transport facilities; Airstrips; Animal boarding or training establishments; Camping grounds; Caravan parks; Cemeteries; Dual occupancies; Dwelling houses; Eco-tourist facilities; Electricity generating works; Exhibition villages; Extractive industries; Farm buildings; Forestry; Freight transport facilities; Heavy industrial storage establishments; Heavy industries; Helipads; Open cut mining; Resource recovery facilities; Rural industries; Secondary dwellings; Semi-detached dwellings; Sewerage systems; Truck depots; Vehicle body repair workshops; Waste disposal facilities; Water supply systems
SALE PROCESS
SALES DETAILS
Openn Negotiation
INSPECTIONS
All inspections to be in the company of an authorised Movable agent or representative.
LEGAL DETAILS
Lambton Law
Mark Hanlon
02 4952 7575
admin@lambtonlaw.com.au
Get In Touch
Agent Details
Joshua Barnes
Commercial | Partner
Enquiry Form
What is your property worth?
Disclosure
This property memorandum has been compiled by MOVABLE for the information of the interested parties to assist them in deciding whether they are sufficiently interested in the property offered for sale to proceed with further investigation of the property. The information does not constitute all or any part of an offer or contract for sale, and is intended as a guide only.
The information contained in the Memorandum has been prepared in good faith. Interested parties should take note however, that any calculations contained in the Memorandum are based on information provided to MOVABLE by outside sources and have not been independently verified by MOVABLE or the vendor. Any projections contained in the Memorandum, therefore, represent best estimates only and may be based on assumptions which, while reasonable, may not be correct.
Interested parties should not rely on any material contained in a brochure or the memorandum as a statement or representation of fact but should satisfy themselves as to its correctness by such independent investigation as they or their legal or financial advisers see fit.
To the extent that this document includes any statement as to a future matter, that statement is provided as an estimate and/or opinion based upon the information known to MOVABLE at the date of preparing this document and assumptions which may be subsequently proven to be incorrect. Neither MOVABLE nor the vendor warrants that such statements are or will be accurate or correct.
MOVABLE provides this document on the condition that, subject to any statutory limitation to do so, each of MOVABLE and the vendor disclaims liability under any cause of action including negligence for any loss arising from reliance upon this document.
This memorandum is provided by MOVABLE or the vendor on a confidential basis to the recipient for recipient’s sole use and is not to be re-supplied or distributed by the recipient to any other person without the prior written consent of MOVABLE or the vendor and neither MOVABLE nor the vendor is liable for any loss arising for such unauthorised use or reliance.
GST
MOVABLE advises that the financial information in this memorandum relating to income, outgoings and the like are provided without reference to the impact of GST, if any. Purchasers must make their own assessment of the impact of GST on the investment, property, lease etc and the returns derived there from after obtaining independent expert advice.
