Market Appraisal

244-246 Summer Street, Orange, NSW, 2800

Absolute Prime Blue-Chip Investment!

Long term capital growth is not in doubt for this iconic property occupying what most consider to be the best CBD corner in the heart of the thriving central business district of Orange.
The Commonwealth Bank, which has occupied the building since 1929, recently completed a major fit-out and occupies the approx. 630 sq.m ground floor retail area. The first-floor offices comprising some 540 sq.m is currently available for an asking rent of $50,0000 + GST per annum.
Orange is recognised as one of the strongest growth regions in rural NSW. The city supports a diverse range of industries including education, mining, manufacturing, horticulture, viticulture, retail and agribusiness. In addition, the city supports large public-sector industry, including the head office of NSW Primary Industry.
Other features include:
• Leased to Australia’s largest listed company with a market cap of approx. $120 Billion
• Major fit-out recently completed by Commonwealth Bank
• Ground floor retail area of approx. 631 sq.m
• First floor offices and amenities of approx. 658 sq.m
• Absolute prime CBD high exposure corner location
• Zoned B3 Commercial Core
• Site area approx. 716.3 sq.m
• Current rental income $243,723.90 plus GST per annum
• Potential income $300,000 plus per annum
• Leased to Commonwealth Bank from 16 August 2016 on a 6 + 3 + 3 term
• Annual CPI Increases then to market

Photo identification must be presented to the agent by all parties prior to inspections. All care has been taken in providing accurate information in this advertisement. However, prospective purchasers are to rely on their own enquiries.

Property Details

Price $4,800,000
Land 716 m2

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Gary Tomlins

Gary Tomlins

P: 02 4774 8222

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