- Street: 19 Veal Street
- Town / Suburb: Hopetoun
- State: WA
- Country: Australia
- Listed: 10/10/2020 1:31 pm
- Expires: 99100 days, 16 hours
HOPETOUN SHOPPING CENTRE $850,000
The Hopetoun Shopping Centre at 19 Veal Street Hopetoun Western Australia has both a Café and a Chemist under long leases with the remaining 27 sqm shop currently vacant and looking for a tenant.
The shopping centre at Hopetoun is in a prime location almost on the beachfront with magnificent ocean views. Hopetoun is one of the most beautiful seaside towns in Western Australia and UNESCO has designated the Fitzgerald National Park a biosphere. With the government recently spending over $40 million upgrading facilities, with all roads being sealed and with our local wild flowers, fishing spots, 4wd tracks and whale watching from many points in the park, together with improved camping facilities, visitor numbers have improved dramatically.
The area is starting to boom again with the Mt Catlin lithium mine in production and Galaxy Resources ploughing ahead http://www.galaxyresources.com.au/ The First Quantum http://www.first-quantum.com/ mine is also due to reopen nearby with the price of nickel rising. Exploration is starting to boom again with drill rigs reappearing and accommodation prices increasing.
This Hopetoun Shopping Centre is on a 1012 square metre beachfront property almost on the pristine waters of the Southern Ocean. Prior to the G.F.C. the highest offer received for the property was $1,600,000.
LOT 1 – THE FRONT SECTION:
Shop 1. Vacant. Floor area 27 sqm Ocean views – used as a pop up shop since 2017
Shop 2. A chemist. Floor area 50.49 sqm Gross annual return $17,399 Nett $15,600
(Currently under a rent venue).
With ocean views, the tenants have a 5 year lease until 05/25 with the last rent review in 2019 so one is long overdue.
Shop 3. A café. Floor area 165 sqm Gross annual return Gross $30,300 Nett $24,000
LOT 2 – THE REAR SECTION
With access via a rear laneway this R50 development block with a 20 m frontage means a discerning buyer could erect 5 dwellings, a block of flats or an office block or subdivide and sell it off.
RETURN ON INVESTMENT
With a very realistic price of only $850,000 and an income of $39,600 the R.O.E. runs out at a very attractive, just over 4.658%. With the Ravensthorpe Nickel Mine reopening a couple of months ago, the Lithium mine in production and the ACH gold mine about to start, interest in the area is picking up. There is now a real possibility of finding a tenant for the vacant shop and rent reviews adding to the bottom line. Effectively you are getting the development block to the rear FREE. Whether you sell, subdivide or put it in your super it makes a very attractive investment at this price.
The adjacent property, 21 Veal Street is also available for $750,000, yet ours also includes a shopping centre with an income and land at the back to subdivide! Either or both of these properties could make and excellent investment for any superannuation fund.
WHY ARE WE SELLING AT THIS PRICE?
Our Shopping Centre at Hopetoun represents an unbelievable OPPORTUNITY for either your superannuation portfolio for a long term hold, or for immediate subdivision or redevelopment. It was valued at $1,600,000 prior to the general financial crisis. Finally all the ducks are lining up in a row with values on the rise again. Why are we selling at this ridiculously low price? Age creeps up on us all and we are moving back to Perth to be near the grandchildren and the hospitals. It is now time for us to move on and to let someone younger pick up a bargain.
So yes, it is now an Urgent Sale and all offers will be considered.
For further details you may contact us directly or simply lodge an offer on this site at any time.
NO AGENTS PLEASE
Phone either (08)98383348 or 0427383333
Many thanks for visiting our site. If any of your friends are thinking of selling their properties please tell them that they may advertise with us for just $100 until it is sold, for up to one year. Just follow the prompts – it is very simple and straightforward. You may even receive offers from prospective buyers via the green “Make an Offer” tab on the top right – straight to your email in-box. All we ask is that you notify us as soon as your property is sold, so we can remove your ad. Oh, and there are no extra or hidden fees when your property is sold.
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