107 Moseley Square (Lot 7), Glenelg

AFFORDABLE INVESTMENT HOLDING, WELL POSITIONED FOR FUTURE GROWTH, BEING ADJ. JETTY ROAD/MOSELEY SQUARE

The premises are leased at a conservative rental for a period of 5 years, commencing 01.05.2013 with Tenant entitled to 1 option to extend for 5 years.
Lot 107 forms part of a Community Plan No. 23680 and was acquired by the current ownership in October 2006 on completion of construction – by the developers.
Lot 107 is contained within Certificate of Title Register Book Volume 5972 Folio 952 and according to the Community Plan, its Lot entitlement is 1023 of 10,000.00 or otherwise 10.23%
Lot 107 has a lettable area of about 102 sqm and contained within the premises is reverse cycle air conditioning, a suspended T-bar ceiling with associated lighting, dedicated alarm system and a small kitchen.
Lot 107 is individually controlled and metered for light and power and a common amenity block is located for use in common with other Lot owners or their invitees.
The subject premises are presently leased to SJ Infinity Pty Ltd and the Director of that Company, as its Guarantor by virtue of an assignment of lease, as endorsed by respective parties on 31.07.2013.

The lease in place is for a 5y+5y term commencing on 01.05.2013 at a starting rent of $40,000.00 PA + GST with yearly reviews in all years by $500.00 with a market review to apply at renewal. The lease is structured on a gross rental basis with Landlord responsible for payment of all Statutory Charges and Community Corporation Levy Charges.

Based on the Current CV and for rating year ending 30.06.2014, a summary of the respective outgoings is provided hereunder (*approx. only)

*Corporation Rates $ 3000.00 PA
*Emergency Services Levy $ 400.00 PA
*SA Water & Services Charges $ 1450.00 PA
*Community Corporation Levy Fee $ 5512.00 PA
(incl. Sinking Fund)
Lot 107 was acquired by the current ownership in October 2006 for a transferred Sale Price of $858,000.00.
The premises are offered for Urgent Sale and accordingly, the Ownership will sell at a figure in the vicinity of $675,000.00, GST exclusive.

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