Why has noone purchased the following property:
Swim Centre in established melbourne suburb
200,000 yearly rental with 4% increases.
Just started a 7 year lease with 3 or 4 further 7 yr options
Off a busy main road
3/4 of an acre in Eltham - a long driveway with pool centre on the rest of the property.
Zoned residential 1 - could be redeveloped in future.
Price vendor asking is 2.5m - but is open to negotiation.
Vendor built the building himself 14 years ago - and the business is being sold separately - the current manager of swim centre is taking over.
Why has noone bought it yet ?
Swim Centre in established melbourne suburb
200,000 yearly rental with 4% increases.
Just started a 7 year lease with 3 or 4 further 7 yr options
Off a busy main road
3/4 of an acre in Eltham - a long driveway with pool centre on the rest of the property.
Zoned residential 1 - could be redeveloped in future.
Price vendor asking is 2.5m - but is open to negotiation.
Vendor built the building himself 14 years ago - and the business is being sold separately - the current manager of swim centre is taking over.
Why has noone bought it yet ?