Local investors have purchased a retail property with residence at 324 The Entrance Road, Long Jetty paying $955,000 (GST not applicable).
The property comprises 2 retail shops and an upstairs office/flat and is currently returning $39,000 per annum with tenants paying 33% of all outgoings. When fully tenanted it can return $67,000 net).
Tony Heath from McLachlan Partners who sold the property said that Long Jetty has become an extremely popular shopping strip in recent years and there are minimal vacancies. 30,000 cars pass through the suburb each day.