Member for Bega Andrew Constance's Bega office is currently up for sale in a rare chance to buy a commercial building in the town's main street. The building, at 124-126 Carp St, is offered through LJ Hooker Bega for $650,000 and while the owners may change the MP will retain his presence in the building. READ ALSO: Far South Coast Real Estate View with the best available properties for sale around A spokesperson for Mr Constance said the office is owned privately and leased by the NSW Parliament as the sitting member's office. "Our understanding is that we will remain and parliament would work with the prospective purchaser on commercial lease arrangements," the spokesperson said. "Their decision to maintain or cancel the lease would be a matter for the NSW Parliament and landlord." LJ Hooker Bega principal Gerry Tarlinton confirmed the current lease lasts until 2023 with options of two further four-year leases after that, and the building's new owner would not be able to evict Mr Constance's staff as "a lease will override a sale". READ ALSO: Six months after bushfires, Bega Valley housing market experiences high demand, low supply "Anything like this is what we call a 'blue chip' tenant, where you have a government tenant in a long-term lease, and is what a lot of investors or superannuation funds would be looking for," he said. "You've got a reliable tenant with no issue of getting your return. "Also, in this case the tenant pays all the outgoings." Mr Tarlinton said overall the housing market in his region has been extremely high in demand, but it was rare to find a commercial building for sale in Bega. "[Commercial buildings are] in a tightly-held market, with only a handful of families owning the majority of the main street commercial properties in Bega," he said. "There are very few sales." He said buyers were more likely to find commercial buildings for sale on the town's side streets than on the main street.
RARE OPPORTUNITY: Bega MP Andrew Constance's office building in Bega is up for sale, but his staff do not need to relocate from the building.
Member for Bega Andrew Constance's Bega office is currently up for sale in a rare chance to buy a commercial building in the town's main street.
The building, at 124-126 Carp St, is offered through LJ Hooker Bega for $650,000 and while the owners may change the MP will retain his presence in the building.
A spokesperson for Mr Constance said the office is owned privately and leased by the NSW Parliament as the sitting member's office.
"Our understanding is that we will remain and parliament would work with the prospective purchaser on commercial lease arrangements," the spokesperson said.
"Their decision to maintain or cancel the lease would be a matter for the NSW Parliament and landlord."
LJ Hooker Bega principal Gerry Tarlinton confirmed the current lease lasts until 2023 with options of two further four-year leases after that, and the building's new owner would not be able to evict Mr Constance's staff as "a lease will override a sale".
"Anything like this is what we call a 'blue chip' tenant, where you have a government tenant in a long-term lease, and is what a lot of investors or superannuation funds would be looking for," he said.
"You've got a reliable tenant with no issue of getting your return.
"Also, in this case the tenant pays all the outgoings."
Mr Tarlinton said overall the housing market in his region has been extremely high in demand, but it was rare to find a commercial building for sale in Bega.
"[Commercial buildings are] in a tightly-held market, with only a handful of families owning the majority of the main street commercial properties in Bega," he said.
"There are very few sales."
He said buyers were more likely to find commercial buildings for sale on the town's side streets than on the main street.
