Coonabarabran NSW 30 Little Timor Street · 30 Little Timor Street, Coonabarabran NSW Information...

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Coonabarabran NSW 30 Little Timor Street

Information Memorandum

For Sale by Auction 21 February 2017

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30 Little Timor Street, Coonabarabran NSW


Table of Contents

Introduction 2

Executive Summary 3

Location 4

The Property 5

Location Maps 6

Site Particulars 7

Property Details 8

Tenancy Details 9

Financial Summary 10

Tenant Profile 11

Sale Process 12

Contact 13

Property Management 14

Disclaimer 16

Available on Request

Sale Contract and Lease

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Introduction

Burgess Rawson are delighted to offer this affordable NSW Government leased investment in

Coonabarabran, NSW for sale via Public Auction.

Since being established in 1975, Burgess Rawson’s offices in Sydney, Canberra, Melbourne,

Brisbane, Gold Coast, Perth and associated office in Kuala Lumpur have had considerable success

in marketing properties of this calibre.

Burgess Rawson are property specialists who manage, sell, value and lease commercial assets for

our large investor and owner occupier client base. We foster long term relationships, adhere to our

market focus, are flexible, adaptable and are known for our specialist skills, seamless national

network and iconic investment Portfolio Auctions.

Based on our knowledge and experience, Burgess Rawson is confident in recommending this

NSW Government leased property as an outstanding investment opportunity.

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Executive Summary

Investment Features

Affordable NSW Government tenanted investment property

Government Property NSW lease to June 2018 + option

Longstanding history as a Rangers office in Coonabarabran

Large 980 sqm site improved with an attractive single level commercial building

Coonabarabran – sits on the divide between the Central West and North West Slopes of NSW

Just over 2 hours west of Tamworth and 1 hour 40 minutes north of Dubbo

Wide frontage to Little Timor Street

Little Timor Street runs off John Street which is an extension of the Oxley & Newell Highways

The Oxley Highway is a rural highway linking inland North West of NSW to the North Coast

The Newell Highway runs north/south inland between the Victorian and QLD borders

Easily managed single tenant investment

Net Income: $35,865 pa + GST

Site Area

Large 980 sqm site improved with an attractive single level commercial building

Lease Details

Renewed lease to June 2018

Further 1 year option to 2019

Easily managed single tenant investment

Net Income

$35,865 pa + GST

Method of Sale

For sale by auction on Tuesday 21 February 2017 at 11.00am AEDST

Venue: Doltone House Hyde Park, 181 Elizabeth Street Sydney

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Location

Coonabarabran is a town in the Warrumbungle Shire which is home to some 9,728 residents.

Coonabarabran is strategically located at the junction of the Newell Highway and Oxley Highway,

being approximately midway on the main Melbourne to Brisbane transport route.

Major surrounding township distances (approx.) include:

Dubbo 160 kms to the south west

Narrabri 118 kms to the north

Gunnedah 105 kms to the north east

Tamworth 180 kms to the east

Strategic and central transport route location, with distances (approx.) as follows:

Newcastle 345 kms to the south east

Sydney 450 kms to the south east

Brisbane 700 kms to the north east

Melbourne 985 kms to the south west

Warrumbungle Shire Council

In 2004, the Shires of Coolah and Coonabarabran were amalgamated forming the Warrumbungle

Shire.

Located within the foothills of the Warrumbungle and Coolah Tops mountain ranges, the Shire

incorporates six main towns which include Coonabarabran, Coolah, Binnaway, Baradine,

Mendooran and Dunedoo.

The Warrumbungle Shire provides excellent medical and sporting facilities, award winning

schooling, national brand retailers such as Woolworths and Coles, many community organisations

and a number of tourist attractions including the internationally acclaimed Siding Spring

Observatory, Warrumbungle National Park and Coolah Tops National Park.

Further information available at: www.warrumbungle.nsw.gov.au

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The Property

The property provides for a wide frontage to Little Timor Street which runs off John

Street which is an extension of the Oxley & Newell Highways.

The Oxley Highway is a rural highway linking inland North West of NSW to the North Coast, whilst

the Newell Highway runs north/south inland between the Victorian and Queensland borders.

The property is within close proximity to the Warrumbungle Shire Council less than 500 metres

from Woolworths.

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Location Maps

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Site Particulars

Title Details

Lot A Deposited Plan 383857

Site Area

980 sqm according to RP Data records

Zoning

B2 (Local Centre) under the Warrumbungle Local Environmental Plan 2013

1 Objectives of zone

To provide a range of retail, business, entertainment and community uses that serve the needs

of people who live in, work in and visit the local area.

To encourage employment opportunities in accessible locations.

To maximise public transport patronage and encourage walking and cycling.

2 Permitted without consent

Home businesses; Home occupations; Roads

3 Permitted with consent

Boarding houses; Child care centres; Commercial premises; Community facilities; Dwelling houses;

Educational establishments; Entertainment facilities; Function centres; Home industries; Hostels;

Information and education facilities; Medical centres; Passenger transport facilities; Recreation

facilities (indoor); Registered clubs; Residential flat buildings; Respite day care centres; Restricted

premises; Seniors housing; Service stations; Shop top housing; Tourist and visitor accommodation

For further information visit: www.warrumbungle.nsw.gov.au

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Property Details

The property which is set on a large 980 sqm site comprises an attractive single level commercial

building with convenient ingress/egress from the street and ample on-site parking.

Internally the property is fitted out with 6 offices, an entry foyer, administration area, large hall area

which includes photocopying areas, a cleaner’s room, male and female amenities, a

communications rooms, a generous meeting room and a kitchen/staff room.

The property is carpeted and air conditioned and features fluorescent tube lighting with diffusers.

There is a rear yard area and garage at the back of the building.

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Tenancy Details

Lease

Lessee Government Property NSW

Term 2 years

Lease commencement 11 June 2016

Lease expiry 10 June 2018

Option period Further 1 year option to June 2019

Rent reviews Annual CPI rental reviews but not to exceed 5% in any one year

Outgoings The lessor is responsible for the payment of outgoings including council rates, water, sewerage and drainage charges, land tax and insurance

Permitted use Office premises for National Parks & Wildlife

Current gross rental pa excl GST $40,325

Please note that the above information is intended as a summary of the lease agreement supplied and has been represented as accurately as possible. We recommend prospective purchasers make their own enquiries to gain a thorough understanding of the provisions of the lease contained within in the Sale Contract.

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Financial Summary

Income

Current Gross Rent $40,325

LESS: Total outgoings

Council rates (2016/17) $3,144

Water rates (2016/17) $561.12

Land Tax (below current land tax threshold on a single holding basis)

Nil

Insurance (2016/17) $915.46

Total estimated outgoings $4,620.58

Estimated net rent (pa + GST) $35,704.42

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Tenant Profile

Government Property NSW (GPNSW) is the Lessee of the property offered for sale in this

document and GPNSW in turn sub leases the properties to the various NSW Government

departments and agencies concerned such as National Parks & Wildlife Services.

“GPNSW provides property solutions which support agencies to improve services for the benefit of

NSW.” Brett Newman, CEO, Property NSW

About GPNSW

GPNSW delivers expert property advice across whole-of-government. Their property expertise

supports agencies to improve services for the benefit of NSW. This means more public housing,

enhanced hospital facilities, better schools and transport. GPNSW takes pride in the benefits their

expertise ultimately delivers for the people and economy of NSW.

GPNSW deliver three core services for the State:

1. Leading property policy

2. Portfolio and asset management

3. Property transactions

These services ensure better management of the State’s property portfolio enabling the release of

capital for front line community services.

GPNSW’s vision is excellence in property for NSW

GPNSW adopts an uncompromising focus on excellence in property services, providing leading

edge real estate advice. They strive to deliver continuous improvement and innovation, taking a

proactive approach to understanding government objectives and policies.

GPNSW are property specialists drawing on extensive experience in capital and property markets.

Their knowledge of government and the property sector, including a track record of undertaking an

array of complex transactions, means they’re trusted to deliver high value and complex capital

recycling initiatives. 11

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Client service is GPNSW’s priority as they undertake property services across whole-of

government.

They work closely with government agencies to understand their requirements,

maximise value for the State and ultimately the people of NSW.

GPNSW are adept at delivering:

Expert advice across whole-of-government

High value and high volume strategic asset recycling initiatives

Best in class asset management solutions

Reform in agency service delivery

Accommodation solutions

They operate on a commercial basis which provides government with the confidence to engage

their services to ensure the efficient management of property assets and transactions.

GPNSW aim is to be a best practice property manager with the capacity to drive reform, capital

management and service delivery for the benefit of NSW

For further information visit: www.property.nsw.gov.au and www.nationalparks.nsw.gov.au

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Sale Process

Method of Sale

The property will be offered for sale by auction on Tuesday 21 February 2017 at 11.00am AEDST.

Venue: Doltone House Hyde Park, 181 Elizabeth Street, Sydney

Inspections

Inspections can be arranged by prior appointment.

Interstate Bidding

Interstate bidding is available strictly by prior arrangement at one of Burgess Rawson’s interstate

offices.

Terms of Sale

Deposit of 10% payable upon exchange and the balance upon settlement. It is proposed the

property will be offered as a 'going concern' and if the purchaser meets the provisions of the GST

legislation the sale will not incur GST.

Contact

Rhys Parker

D 02 8113 5209

M 0451 101 042

E [email protected]

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Property Management

At Burgess Rawson, we’re not only market leaders in investment sales,

but did you know that we aim to enhance the value and return of your

investment? We provide a strong and sophisticated professional

property management team that will ensure long-term success of your

asset.

Our Property Management Department

With a nation-wide management portfolio

valued in excess of $2 billion and with

market knowledge of all forms of

commercial property, we have the ability

to manage your property no-matter the

type or its location

Our team prides itself on relationship

building with all of our tenants, and has

built quality relationships with blue chip

companies such as Bunnings, Coles,

ING, Liquorland, Woolworths as well as

the four major Banks and many small

businesses. This skill is paramount in

tenant retention, avoiding long periods of

vacancy and minimises arrears

Our experienced team will add value to

your asset by taking an investor minded

management approach. We will forecast

and maximise your return by thinking

“return on investment” in all property

dealings

Due to the fact that we manage all forms

of commercial, industrial and retail

property, we can tailor a management

package to suit your individual

requirements

We are commercially minded, monitor

expenditure closely & treat each property

as if it were our own

By undertaking regular inspections of all

our managed assets to ensure

presentation is at its best at all times and

through close monitoring of critical lease

terms and conditions we ensure that no

obligation or detail is missed...minimising

risk to our clients

There are many other ways that our management team can maximise your property’s investment

return, even in difficult market conditions. To find out how we can help you, please call us today.

Martin Fisher

Director, Property Management Division

D 02 8113 5244

O 02 9232 6288

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Affordable

NSW Government Leased

Investment Property,

Coonabarabran, NSW

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Disclaimer

This Information Memorandum has been prepared

in good faith and with due care by Burgess

Rawson (NSW) Pty Ltd and if applicable, its

conjunctional agent. This disclaimer may also

extend to include any other Burgess Rawson

Australian office referred to henceforth as

“Burgess Rawson”.

By accepting this Information Memorandum,

recipients agree for themselves and their affiliates

to the terms of this Disclaimer.

This Information Memorandum has been prepared

solely for general information purposes and not as

specific advice to any particular recipient or any

other person. It is not to be construed as a

recommendation by Burgess Rawson that any

recipient proceeds with any investigation or with

any purchase and/or lease of a property or

service. In all cases recipients should carry out

their own independent investigation, assessment

and analysis.

Intending purchasers should note:

• In the event of any inconsistency of this

property report and the contract for sale of

land, the provisions of the contract for sale of

land shall prevail.

• The lease details (if applicable) contained in

this Information Memorandum are only

illustrative of the relevant lease document/s.

• Figures for outgoings and rentals as stated in

this Information Memorandum may be based

on estimates. Potential purchasers should

make their own judgement as to the likely net

income.

• The only representations and warranties

which have any legal effect will be those that

are expressly included in any legally binding

contract that may be concluded with a

successful purchaser.

• All stated dimensions and areas are

approximate.

To the maximum extent permitted by law, no

member of Burgess Rawson, their respective

directors, employees, agents, conjunctional

agents, advisors or representatives, as the case

may be:

• provides any undertaking, express or

implied, as to the accuracy, adequacy,

reliability, reasonableness or completeness

of the information or any opinion or

statement contained in this Information

Memorandum;

• shall have any liability (including for

negligence) for any statements, opinions,

information or matters arising out of,

contained in or derived from, or for any

errors or omissions from or failure to correct,

any information in this Information

Memorandum or any other written or oral

communications transmitted to any recipient;

and/or

• is under any duty of disclosure or fiduciary

duty or any obligation to update any

information contained in this Information

Memorandum or any other written or oral

communication transmitted or made

available to a recipient, or to notify any

person should any such information cease to

be correct after the date hereof or the date of

provision, as the case may be,

• and each recipient, by accepting delivery of

this Information Memorandum, waives all

rights in that regard.

This Information Memorandum is provided to the

recipient on a confidential basis, and is not to be

resupplied to any other person without the prior

written consent of Burgess Rawson. The recipient

may, however, disclose the Information

Memorandum to any of its employees, advisors

(including lawyers and accountants) or agents to

the extent absolutely necessary to allow the

recipient to evaluate the property/properties and to

act on an opportunity to purchase the

property/properties, but will ensure that those

employees, advisors or agents maintain the

confidentiality of this Information Memorandum.

Coonabarabran NSW 30 Little Timor Street · 30 Little Timor Street, Coonabarabran NSW Information...

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