SOLD - Thornton (Greater Newcastle) - Brand New 10 Year Lease – Fixed 3% – Rapid Growth Precinct

Cushman & Wakefield is pleased to present to the market 2 Avondale Drive, Thornton for Sale via Auction.

The property has the following key characteristics:

• 10 Year Lease to 2029 + opts to 2049
• Paper Planes ELC – Strong Performing operator with more than 20 years of industry experience
• Prime corner position within Thornton’s rapidly growing residential precinct surrounded by planned new developments and housing estates
• Located minutes to Thornton Coles Shopping Centre
• Brand new modern purpose built facility completed in 2019 offering significant depreciation benefits
• Licensed for 58 LDC Places with consistently strong occupancy levels
• Lease secured by 3 month Bank and director Guarantee
• Tenant pays 100% of outgoings (incl. Land Tax)
• Favourable net lease structure with ratchet provisions ensuring long term income growth
• Fixed 3% annual rent increases
• Net Income $179,220 pa + GST

The property is for sale by way of Cushman & Wakefield Investment Auction. The Auction will be conducted on Thursday 10 December at 1pm AEDT at Doltone House Hyde Park, located on 3/181 Elizabeth Street, Sydney NSW.

Prospective purchasers and interested parties will have access to remote bidding facilities in both Brisbane and Melbourne.

Should you have interest in bidding on the property, please contact the exclusively appointed property professionals at Cushman & Wakefield.