Gilberts Property are pleased to offer 285, Grey Street, Glen Innes (New England) for sale.

The property has just been leased to NSW Communities and Justice, a Department of the NSW Government.

The property has the following characteristics: -

* New NSW Government lease to 2030 plus option to 2035
* Just refurbished building in CBD location
* Rare freehold Government investment at this price
* NSW Government is fitting out the property at its own expense - vendor wants a sale before Christmas!
* NSW Department of Communities and Justice – essential services tenant
* Strong and stable population, underpinned by growing economic fundamentals
* Glen Innes - strategically located at the junction of the New England Highway and Gwydir Highway
* Glen Innes/Northern Tablelands Gross Regional Product was $1.46 billion in
FY24, up 2.5% since the previous year
* Two onsite parking spaces
* Annual 3% rent increases
* Easily managed Government tenant investment.

Net Income: $43,772 pa + GST (Est)

Asking price: $725,000 (6.00% return)