Property Evaluation Dossier

Confidential · Buyer-side DD

Premium · QLD⚠ 1 flagsConfidential

Conditional buy · 6.5/10

1/105 Flinders Parade, North Lakes QLD 4509

Tyrepower North Lakes — sale subject to lease to J A Tyre Co Pty Ltd · REIQ Commercial Contract · Sold as Going Concern

Lot 1 SP306589 · CTS 53334 · Moreton Bay City · Generated 2 May 2026 · Prepared for Maria · Reviewed against Deal Vet KB (2026-04-25)

Demo mode

1.Verdict

Conditional buy · 6.5/10

National-brand tenant on a fresh 10-year lease at $385/sqm. Three material issues require resolution before exchange.

1.1Headline numbers


Asset	Single-tenant commercial premises (Tyrepower workshop)

1.2Scorecard

Dimension	Score / 10	Comment
Tenant covenant	7	National Tyrepower brand; ASIC pending.
Pricing	?	Comparables work pending.

1.3Indicative offer band

Target net yield	Implied price	Zone & commentary
5.00%	$3.70M	walk above — Strong covenant required
6.00%	$3.08M	target — Mid-market

Buy if

HIGH flags resolved
ESA returns clean

Walk if

GST election cannot be repaired

2.Flags & cross-check

The following are unresolved deltas between the contract / disclosure and independent evidence. Each must be closed out before exchange.

Flag 1 — GST going-concern selection inconsistent with Buyer's stated GST status (HIGH)

Reference Schedule selects 'Going concern' but Buyer GST status is No.

Action: Register Buyer entity for GST before settlement.

cl. 11.5 · s.38-325 GST Act · Buyer's solicitor · pre-exchange

2.1Cross-check matrix

Vendor's claim against independent finding. 1 facts checked; only non-match rows shown by default.

Fact	Vendor's claim	Independent finding	Status
Lease termTitle & identity	10 yrs + 2x5 optionsLeases Schedule	12 yrs + 1x5 optionTitle 51211351	MISMATCH — Flag 2

3.Identity

Title: Lot 1 SP306589

4.Lease

4.1Term & options

Tenant: J A Tyre Co Pty Ltd

4.2Rent & reviews

Passing rent: $185,000 pa + GST

4.3Outgoings recoverability

Outgoing	Annual	Recoverable?	Risk
Council rates	$3,340	YES

4.4Security & tenant covenant

Bank guarantee: Not visible

4.5Make-good, assignment, default

Standard make-good clauses apply.

4.6RSLA status

Borderline applicability.

5.Sale contract

5.1Parties & property

Vendor: 11 Waterside Pty Ltd

5.2Title encumbrances surviving settlement

Item	Detail
Lease 724735140	Whole of land

5.3Price, deposit & settlement

Settlement: 30 days

5.4GST

GST election: Going concern

5.5Land tax adjustment

Single-holding basis.

5.6Conditions

Subject to finance: Not Applicable

5.7GST going-concern conditions

Going-concern test	Status
Property tenanted at settlement?	YES

6.Planning

6.1Zoning & planning controls

Zoning: Mixed Industry & Business

6.2DA history & surrounding supply

No DAs on file.

7.Comparables

Three retail comparables within 5 km support a $/m² range of $9,200–$14,500. The closest comp on Falcon St (4 mo old) anchors the upper end of the range.

Recent sales near 2065 · subject: retail · up to 25 sales · last 24 mo

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Click a pin on the map (or a row in the table) to see comp details.

5 comparables within 2 km of the subject.

Address	Sold	$	m²	$/m²	Type	Distance	Links
65 Willoughby Rd, Crows Nest NSW 2065	2026-01-15	$4,200,000	320	$13,125	retail	0.0 km	D 📍
50 Falcon St, Crows Nest NSW 2065	2025-09-02	$3,650,000	280	$13,036	retail	0.2 km	D 📍
14 Atchison St, St Leonards NSW 2065	2025-04-19	$2,900,000	240	$12,083	retail	0.6 km	D 📍
212 Pacific Hwy, St Leonards NSW 2065	2025-11-08	$5,200,000	360	$14,444	retail	1.4 km	D 📍
8 Albany St, Crows Nest NSW 2065	2025-07-21	$3,100,000	220	$14,091	retail	1.8 km	D 📍

8.Financials

8.1Income — Year 1

Item	$ pa	Notes
Gross face rent	$185,000	Per Leases Schedule

8.2Landlord-borne expenses

Item	$ pa	Notes / Risk
Vacancy reserve	$5,000	Modest

8.3Implied price / NOI sensitivity

Net yield	Implied price	Comment

8.4Stamp duty

Implied price	Standard	AFAD (foreign)	Total if foreign

8.5Land tax

Single-holding land tax.

8.6GST

Going concern selected.

8.7Year-1 holding-cost summary

Item	$	Notes

9.Taxes

Stamp duty: ~$148k

10.Physical

10.1Building basics

Insured value: $3.15M

10.2Asbestos

Vendor does not warrant.

10.3Insurance review (Body Corporate-held)

Cover	Sum insured / status
Building	$3,152,186

11.Location

11.1Macro location

Suburb: North Lakes 4509

11.2Transport & access

Flinders Parade is a primary connector.

12.Environmental

12.1Searches in the disclosure pack

Search	Source	Result
EMR / CLR	DETSI	Not on register

12.2Buyer-side searches still needed

Phase 1 ESA

13.Next steps

13.1Pre-exchange checklist

13.2Pre-settlement checklist

Order updated title search 5 days before settlement

13.3Document index

Document	Status	Date
Title search	PROVIDED	28/04/2026

Contract clause · Special condition 14.3

“The vendor reserves the right to remediate any soil contamination identified between exchange and settlement at the purchaser’s expense, capped at $25,000.”

Deluxe analysis: favours seller. Recommend negotiating: cap indemnity at $0 unless vendor declares known contamination at exchange.