3 Iraci Cres, Weipa, QLD 4874Price: $900,000
Greater Than 11% Return on Investment!
Self Storage Complex
The sheds have been a great investment for me over the years, giving returns far greater than any rental property could dream of. For example, if this was a house it would have averaged $2,166 a week rent over the last 3 years. And that's at an average occupancy of only 57% (up from 42% on the previous 3 years) . There is so much potential to increase the profit without any further capital costs. I have kept the rates very reasonable for a mining town where there is no competition (same rates as Cairns). Perhaps you can see a way of putting the vacant storage space to good use while it's not being used?
Weipa isn't as risky as your typical mining town given that Aluminium is a material of the future that will always be in strong demand and this is the largest bauxite deposit in the world that sits in a stable country close to China. The long term mine plans show mining in the area for at least another 100+ years. Tourism is also increasing dramatically with many new clientele chasing storage for boats and trailers etc while visiting. There is always talk of Weipa developing into a regional hub for government organisations as well.
The sheds can be managed while living remotely quite easily and for very little cost. There is a website set up. Rent is paid in advance monthly.
About the sheds. There are two purpose built buildings comprising 80 sheds of varying sizes (1x1's up to 6x3's). The first building was built in 2002 and the other in 2012. Both are in terrific condition, required little to no maintenance and are situated on 2,100 m2 of freehold fully fenced land located at Evans Landing, the main industrial precinct of Weipa. There are CCTV cameras to the outside of the storage unit building to the street front.
Ring or email for further information and accountant prepared financial figures. The figures will show a greater than 11% return on investment. Where are you going to find that these days?
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