Cubbyhole - thoughts on this concept?

Hi all

See this that popped into my mailbox today: About our small industrial units for sale in Warnervale | Cubbyhole

Interesting industrial development concept. Central Coast. Would love to hear what others think about this as a relatively low-cost investment.

 

A slight bend on self storage facilities (they say as much in the website) which often contain small dry use "warehouses/offices" which may or may not comply with Council. They seem to have systemised this and taken it a level and the small space may suit some micro businesses etc with minimal stock issues. The claimed rental yield I determined from the below link seems 7% (??).....Could even be an affordable SMSF investment and might be capable of being rented to a members small business. Financing may otherwise be a issue.

Online Creative Portfolios and Creative Jobs - The Loop

Costs seems to be from $119K....

 

Thanks Paul. I think the rent seems excessive for the Central Coast when inner west warehouse space is going for see below:
Woodburn Creatives

NatKaw

Warehouse
New South Wales , REDFERN

$150 (per week)

 

Just ran my numbers over $200/m2 for an Industrial shell in the bush.


This almost equates to buying an apartment in one of those mega apartment blocks - imagine the body corporate meeting. 84 owners, all investors and not one gives a damn about the externalities or their strata responsibilities.

It may be OK if you developed the entire site and held/build to rent but otherwise keep walking.... Better yet run.

 

Looked at this concept last year, figures didn't add up, shared facilities instead of one in each unit - which I think would be a no no.. and expensive strata fees

My conversation with agent is coming back to me - am pretty sure when asked about facilities he said there was no water to each unit