A investment opportunity is set to attract Mount Isa buyers when an industrial space goes under the hammer at Burgess Rawson’s Flagship March Portfolio Auction in Melbourne next week
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The 5744 sqm industrial site us at 15 Traders Way in the industrial area of Ryan and current tenants, mining company Summit Resources, boast a recently renewed secure 10-year lease with options extending to 2038 and 3% annual rent increases.
Burgess Rawson Queensland Sales and Leasing Executive, Jamie Dewe, said Mount Isa’s strength as a thriving mining town will see the property attract significant interest from commercial property investors looking to expand to their portfolios to regional areas.
“(Mount Isa) supports a growing commercial property market,” Mr Dewe said.
“Shaped by its rich mineral bounty and mining heritage, it really is a city unlike any other, and is the administrative, commercial and industrial centre for the North-West Queensland region, which we expect to cement its appeal among buyers as a unique investment.
Summit Resources has been operating in Mount Isa since 2007 and is owned by Paladin Energy, one of the world’s largest independent uranium producers.
The two-level office building includes a workshop, enclosed storage shed and an open bay storage shed spread across a large 1691 sqm building area.
The property provides a net income of $210,000 pa + GST, and will be offered for sale on Wednesday March 28 at Melbourne’s Crown Casino.