As I've said in another post I'm closing my practice in Mt Druitt after being " bought out " by one of the larger corporate practices.
That leaves me with a soon to be vacant shop in a Lethbridge Park . Lethbridge park is a suburb of around 5-6 thousand in a lower end socio economic area of Western Sydney . There are only five commercial sites in the suburb which gives it a a degree of captive audience as many of the residents in the area get around by public transport. There are several smaller shopping centres in Mt Druitt, some of which havn't been travelling well over the last ten years , however the lethbridge park shopps are located next to a bigger intersection , behind a service station and next to a bus stop.
This is not an investment for some one who is new to commercial properties and is probably best suited to someone who is already either aware of the risk and potential rewards associated with smaller peripheral shopping Centres and IHMO probably for someone who is going to be an owner operator. Of the various operators who have run businesses in the group of shops in the 19 years I've been there , most have moved on with considerably more more wealth than when they arrived , though a couple of incompetant people have almost bankrupt themselves.
There are three other shops in the strip, a supermarket come bottle shop, a chemist and a takeway.
hard to say what the rent would be as the two shops that are rented basically have established businesses / set ups aligned with their sites so the landlords have been able to charge very high rents.
Asking price $350000 ( not negotiable , seriously ) . This is probably slightly less than what it would be valued at , but as I am keen to sell / finalise and move on.
I'm not interested in getting involved in a debate as to whether this is a good investment or not. That would depend on the person . If you're not sure , then it's not for you , but for the right person it would be a good investment.
I have only made it public that I'm closing since last wed and without saying it's for sale I've already had three people approach me to see if I'm interested in selling ( and one in leasing ) however I thought I'd mention it here as well , given my involvement in the forum over the last few years. I've heard some people often say that the good deals usually don'tt get offered on the market though I'm not saying that's the case here.
If anyone is interested in more details please pm me
Cliff
That leaves me with a soon to be vacant shop in a Lethbridge Park . Lethbridge park is a suburb of around 5-6 thousand in a lower end socio economic area of Western Sydney . There are only five commercial sites in the suburb which gives it a a degree of captive audience as many of the residents in the area get around by public transport. There are several smaller shopping centres in Mt Druitt, some of which havn't been travelling well over the last ten years , however the lethbridge park shopps are located next to a bigger intersection , behind a service station and next to a bus stop.
This is not an investment for some one who is new to commercial properties and is probably best suited to someone who is already either aware of the risk and potential rewards associated with smaller peripheral shopping Centres and IHMO probably for someone who is going to be an owner operator. Of the various operators who have run businesses in the group of shops in the 19 years I've been there , most have moved on with considerably more more wealth than when they arrived , though a couple of incompetant people have almost bankrupt themselves.
There are three other shops in the strip, a supermarket come bottle shop, a chemist and a takeway.
hard to say what the rent would be as the two shops that are rented basically have established businesses / set ups aligned with their sites so the landlords have been able to charge very high rents.
Asking price $350000 ( not negotiable , seriously ) . This is probably slightly less than what it would be valued at , but as I am keen to sell / finalise and move on.
I'm not interested in getting involved in a debate as to whether this is a good investment or not. That would depend on the person . If you're not sure , then it's not for you , but for the right person it would be a good investment.
I have only made it public that I'm closing since last wed and without saying it's for sale I've already had three people approach me to see if I'm interested in selling ( and one in leasing ) however I thought I'd mention it here as well , given my involvement in the forum over the last few years. I've heard some people often say that the good deals usually don'tt get offered on the market though I'm not saying that's the case here.
If anyone is interested in more details please pm me
Cliff
