319 Wagga Road, Lavington
Unbeatable Retail Location AGENT AGENT: Kristian Hopwood 0473 888 821
High Exposure Opportunity Four Tenancy Retail Asset
Property Information Positioned on the Wagga Road strip between Albury’s CBD and Lavington’s retail heart, this substantial two level investment offers a combination that is hard to find in the current market, an income stream already in place, a generous 980sqm landholding, and genuine scope to add value. Ground floor comprises four retail tenancies of 54sqm each. Three are leased, returning a combined net income of $42,838.32 per annum with every tenant covering their own outgoings, and one shop sits vacant and ready for its next operator. Upstairs, two 108sqm residential tenancies are vacant and in need of renovation, a straightforward path to a second income stream once refurbished, subject to council approval. Beyond the building, the site’s standout feature is its depth. At 980sqm, the block runs well past the retail strip to a substantial rear yard currently used for informal parking, a rare offering directly on Wagga Road and one that gives the next owner room to formalise parking, add storage, or explore further development, subject to council approval. This is a property for the investor who can see past the surface, a well located position on Wagga Road with continuous exposure to passing trade, a rent roll already doing the work, and real room to grow it further.
Key Features • 980sqm landholding with a substantial rear yard, rare for the Wagga Road strip • 432sqm of total building area across two levels • Four ground floor retail tenancies of 54sqm each, three currently leased • Two 108sqm first floor residential tenancies, vacant and offering a second income stream once renovated, STCA • Current net income of $42,838.32 per annum, with upside once vacancies are addressed. All outgoings paid by tenants • Prominent Wagga Road exposure between Albury CBD and Lavington Shopping Centre • Walking distance to Lavington Shopping Centre (Big W), Jelbart Park and Monument Hill • Easy access to the Hume Highway
INCOME SUMMARY
Tenancy
Area
Net Rent p.a.
Rate $/sqm
1/319 Wagga Road: Maxxy’s Food Club
54 sqm
$17,550.00
$325.00
2/319 Wagga Road: Vacant
54 sqm
Vacant
Vacant
3/319 Wagga Road: Oo Lala Hair
54 sqm
$12,420.00
$230.00
4/319 Wagga Road: Lily Massage
54 sqm
$12,868.32
$238.30
FF1/319 Wagga Road: Residential (vacant)
108 sqm
Vacant
Vacant
FF2/319 Wagga Road: Residential (vacant)
108 sqm
Vacant
Vacant
Total
432 sqm
$42,838.32
N/A
Figures are net of outgoings, which are paid in full by each tenant.
OUTGOINGS RECOVERABLE
Air Con Servicing
$1,040 (approx.)
Fire & Emergency (non recoverable)
$631 (approx.)
Electricity $24,158 (approx.) Garden Maintence
$1,200 (approx.)
Council Rates $6331(approx.) Water and Sewerage
$2,974 (approx.)
Insurance $3,041(approx.) TOTAL $39,375 (approx.)
OUTGOINGS NON RECOVERABLE Land Tax
TBC per annum (approx.)
ADDRESS: 319 Wagga Road, Lavington Auction: Date to be confirmed
ZONING – E2 Commercial Core PLANNING AUTHORITY – Albury City Council
Site Plan
Features at a glance
STEAN NICHOLLS COMMERCIAL Suite 1, Unit 19, 669 Dean Street, ALBURY NSW 2640 P: (02) 6021 5233 E: kristian@steannicholls.com.au W: www.steannicholls.com.au Disclaimer: Information provided is believed to be accurate as at the date of printing, no responsibility is taken for any errors or omission. It is your responsibility to obtain independent, professional advice. Personal information collected from you is for security purposes to contact you should the property sell prior to auction. We may use this information to provide you with other real estate services including referrals to authorized financial services’ providers. Stean Nicholls Commerical Pty Ltd - ABN 99 667 298 179