A tenanted warehouse investment opportunity on a prominent main road location in the Newcastle suburb of Lambton is being offered for sale via auction by Ray White Commercial Newcastle.
The property on an approximately 5,864 sqm site at 41-45 Griffiths Road, Lambton, is being marketed by Ray White Commercial Newcastle’s Lee Follington.
Mr Follington said this was the first time the property had been offered to the market.
“This property is currently leased by six individual tenants who occupy a total lettable area of approximately 3,055 sqm,” he said.
“The approximate net lettable rental income is $347,000 per annum.”
Mr Follington said the warehouse building is strategically located on one of Newcastle’s main arterial roads.
“This property is ideally situated being approximately 5km from the Newcastle CBD, 1km from Waratah Shopping Village and 4.5km from the major industrial areas of Carrington Dockyards and Steel River, Mayfield West,” he said.
“The steel framed concrete panel building enjoys high exposure and there are approximately 42 on-site car parking spaces.”
The property will be auctioned at 10.30am (AEST) on Tuesday, July 26, 2016, at Mezzanine Level, 50 Margaret Street, Sydney.