58 Emmett Street, Smithton, TAS 7330

Here is your opportunity to be the next owner of this prominent main street building in the centre of the main street of Smithton. The solid brick 1930's building was constructed as a bank with a generous four bedroom residence at the rear. The shopfront is leased by Spinks Property Services and has occupied by the business since 1988. Commercial lease in place with options until 2030.

Income Spinks Property Services $2003 per month (incl GST) $21,840 p.a. net. The initial 3-year lease commenced 22/5/15 with a further 5 x 3-year options. 1% annual rent increases.

House $290 per week $15,080 p.a.

Total $36,920

Expenses

Council rates $3157

Land Tax $584

Taswater $1140

Management fees $1500

Insurance $2454

Minus SPS share $2440 (50% rates, Taswater and land tax)

Total $6395

Net rental $30,525 per annum.