Ingham Investment Opportunity
A commercial building investment opportunity with long term federal government tenants in the North Queensland regional centre of Ingham is being offered for sale through Ray White Commercial Townsville and Ray White Commercial (Qld).
The 660 sqm office building at 48 Herbert Street, Ingham, is being marketed by Ray White Commercial Townsville’s Adrian Pascoe and Ray White Commercial Qld’s John Dwyer.
The property was purpose built to federal government requirements and is leased to Medicare and Centrelink until 2021, with options to 2027.
Adrian Pascoe said the current gross rental was $371,083 per annum and the vendor had just reduced the asking price to around $3.2 million, which would give the property an annual return of almost 9.9 per cent.
“This is an investment opportunity that attracts a high yield,” Adrian Pascoe said.
“It is probably one of the best buildings in Ingham. The likes of this sort of property would be attracting a much lower yield and much higher price in southern markets.”
John Dwyer said the fully airconditioned office building includes partitioned offices, open plan work areas, staffrooms, disabled and shower amenities and an external breakout area.
“The office is disabled compliant with electric glass sliding doors and complies with the tenants’ stringent security requirements such as swipe card readers,” he said.
Ingham is approximately 110km north of Townsville and is the administrative centre for the Shire of Hinchinbrook.