Kempsey Westpac building sold for $1.11 million
Staff reporterDecember 8, 2020
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.