The building that houses the Mount Isa Coffee Club is set to go under the hammer at a Melbourne auction later this month.
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The property will be sold at Burgess Rawson's Flagship Portfolio Auction on June 26 and the agents said the Coffee Club is tenanting the 21A-21B Miles St premises on brand a new 10-year head office lease.
Burgess Rawson said options include an extension to 2034 and fixed 3% annual increases, assuring growth via the long-term tenant which has occupied the space since 2010.
The building offers indoor and alfresco dining areas in the centre of town and Burgess Rawson selling agent Craig Chapman said an established franchise situated in this position provides a prime entry level opportunity for budding investors.
"This Mount Isa property delivers an ideal prospect for those eager to start building their commercial property investment portfolio," Mr Chapman said.
"The new buyer can rest assured that the success of their investment is in safe hands - The Coffee Club has is an established international brand and is currently operating 400 stores across nine countries around the world."
Mr Chapman said the Mount Isa franchise returned a net income of $65,000 plus GST each year.
"The tenant pays all the usual outgoings as per the lease agreement and the seven on-site car spaces are a huge plus too,"
The 505 sq m Mount Isa retail site will be heading to auction from 11am on Wednesday June 26 at Crown Casino's River Room in Melbourne.
For further information on this property contact Craig Chapman on 0427 110 132 or via email cchapman@burgessrawson.com.au.
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Derek Barry
Editor of the North West Star Mount Isa since January 2016. Prior to that, an editor at several regional southern Queensland newspapers. Passionate about telling local stories. Comes with a strange accent to due an Irish accident of birth.
Editor of the North West Star Mount Isa since January 2016. Prior to that, an editor at several regional southern Queensland newspapers. Passionate about telling local stories. Comes with a strange accent to due an Irish accident of birth.
