Ray White Commercial Victoria is pleased to offer 690 Centre Road, Bentleigh East to market via public auction on Friday 1st September 2017 at 12pm on-site.
Located on the busy Centre Road shopping precinct, this leased retail property with separate one bedroom residence, both leased to quality tenants is the perfect addition to your property portfolio or great for the first time commercial investor looking to get into the market.
Being only a single level building there is the added benefit or scope to build up and value add (STCA).
The property is located amongst many established and complimenting businesses, not to mention the continuous high density residential developments, which have brought a change of demographics to the area of younger professionals with higher sources of disposable income.
- Total land area 215m2 (approx)
- Total building area 121m2 (approx)
- Comprising retail premises (66m2 approx) plus one bedroom residence (55m2 approx)
- Retail leased from November 2015 for 3 years with one further term of 3 years
- Current rental for retail premises $33,372 per annum plus GST (if applicable) plus Outgoings
- Residence leased from February 2017 for 1 year
- Current rental for residence $275 per week or $14,300 per annum
- Total combined income $47,672 per annum (approx)
- Property has rear access via ROW and parking for two cars and motorised roller door
- The property is single level with further development potential (STCA)
- Zoning Commercial 1 Zone (C1Z)
- Terms 10% deposit and balance within 30/60/90 days thereafter
Auction 1st September 2017 at 12pm on-site
Ryan Amler - 0401 971 622
Joshua Colosimo - 0413 790 309