Kempsey Westpac building sold for $1.11 million

Kempsey Westpac building sold for $1.11 million
Kempsey Westpac building sold for $1.11 million

Burgess Rawson have successfully auctioned off the Kempsey Westpac.

Located at 4-6 Smith Street, the building sold for $1.11 million.

It is currently leased to Westpac until 2022 with options to 2032.

Net income on the property is $80,027 per annum, plus GST.

Set on a 510 square metre holding, the two story building is situated near both a Coles shopping centre and a post office.

The property last sold in 2001 for $330,000, a reduction on its previous sale price of $502,250 in 1989.

It was last marketed unsuccessfully in 2015 and spent two thirds of a year on the market.

Tags: 
Westpac Kempsey

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