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69 Thuringowa Drive, Kirwan (Townsville) QLD

Prime Medical Investment – Renewed Triple Net Lease to National Tenant

Stonebridge is pleased to present for sale, 69 Thuringowa Drive, Kirwan (Townsville).
The asset has the following key investment features:

  • Renewed 5 year triple net lease to 2027 + options to 2042
  • Corporate Head Company Lease to National Dental Care – Leading national dental service provider across 60+ locations
  • Strong performing & longstanding dental practice in operation 17+ years, current patient wait times up to 8 months
  • Highly exposed 786 sqm* site with direct frontage and access to major arterial Thuringowa Drive (25,000+ vehicles per day)
  • Modern and well configured dental surgery, fully refurbished in 2009, featuring state-of-the-art equipment
  • Recent and ongoing tenant investment by NDC, including enhanced fit-out and new dental equipment
  • Strategic ‘activity centre’ position near multiple schools, Coles, Woolworths & Big W anchored Willows Shopping Centre, Health Campus, McDonald’s, Hungry Jack’s, Dan Murphy’s and medical centres
  • Townsville – Major North QLD city boasting a multi-faceted $12.38 Billion economy and population of 229,031+
  • Secure lease structure including ‘ratchet’ provision, ensuring rent cannot decrease
  • Triple Net Lease – Tenant pays all outgoings including Land Tax, Management Fees and Structural Repairs & Maintenance
  • Rare minimum 4% annual rent increases
  • Net Income $186,367 pa* + GST

 
The investment is for sale by way of Expressions of Interest closing Monday 11th April at 1pm.
For further information, please contact the Stonebridge team.
*Approx.

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