2/3 Ramsay Street Garbutt, QLD 4814

This substantial multi-tenancy office complex is located within the Garbutt industrial precinct, just off Ingham Road and 1.7 kilometres from the Townsville Airport.

The property is Lot 2 within the 3 Ramsay Street group title plan and features:

• Building area: 1,295 sqm over two levels
• Currently configured as three self-contained tenancies
• Ability to configure as five tenancies or more
• 36 allocated on-site car spaces
• Total site area of 3,278 sqm with drive-around access
• Holding income via two commercial leases
• Solid concrete construction
• Extensive refurbishment works completed by the current owner
• Ability to strata title and sell as smaller tenancies (STCA)
• Ability to install a lift to provide disabled access to the first floor (plans drawn)

Ground Floor - fully leased

Tenancy 2A: 294 sqm
• Current lease in place at $50,000 p.a. + GST + outgoings
• 3 + 3-year term with 3% annual increases
• Outgoings contribution: $14,716.27 + GST + management fee

Tenancy 2B: 354 sqm
• Current lease in place at $53,100 + GST (no outgoings)
• 2 + 2 + 2-year term with 4% or CPI annual increases

First Floor - Vacant
• Tenancy 2C: 590 sqm (could easily be split into multiple tenancies)
• Market rental: $118,000 per year + GST + outgoings

Please contact RWC Townsville to arrange an inspection.