The Westpac Bank building and two storey, four bedroom residence. The historic building dominates the Cooma C.B.D and cannot be missed as it is adjacent to a busy roundabout and boasts a prominent corner position. Westpac has been in residence for decades. Previously the Bank of NSW occupied this building since 1914. The banking chamber (area 310sqm) comprises a long reception and service area, 3 interview rooms, 2 offices, kitchen, two toilet rooms, and storage. Note - The extensive air conditioning system has recently been upgraded and refurbished. The residence is in two levels. Above the bank is the original accommodation. The four bedrooms feature 3.1m high, ornate ceilings, wide skirtings, thick cedar doors with original charming brass fittings, period windows and a fireplace. Downstairs is a spacious living room, dining room, kitchen, and laundry, a brick single garage. The buildings are not built over the whole site. Lease details, Westpac - 5yr lease - expires 20/12/22 plus 2 x 3 yr options.
Rent - $55,800 P.An plus G.S.T. Annual indexed adjustments.
Outgoings - Westpac pays 60% of outgoings.
Residence - 18-month lease to 04/08/19 plus 18-month option.
Rent -$14,820 P.An (No G.S.T)
Note - The residential tenants wish to stay long term.
Combined Gross Rent - $70,620
Combined Nett Rent - $66,500 approx (ex-G.S.T)
Agent - Don Menchin 0413 028 795
Inspections - By appointment only.
Comment - This is a rare opportunity to secure a sound investment and a charming building at a most prominent location.
No open times scheduled. Contact Agent to arrange a viewing.
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