On behalf of the Vendor, Colliers International would like to welcome you to 186 Vulture Street, South Brisbane.
Take this chance to own your very own slice of land nestled in the towering unit market and entertainment precinct of South Brisbane. Positioned to take advantage of the influx of convenience style living, this well-appointed corner position will continue grow in demand as the population soars all around.
The Heritage shop front pays homage to an era that once was the high street of Vulture and Cordelia Street which now continues to be the gateway to South Bank and West End, with over 29,000 cars passing daily. Recently a residential 3 bedroom unit has been added to the rear of the property enhancing the potential income but also offering the opportunity of work and live in the same location comfortably.
Located a short walk from Southbank Train Station this well appoint property takes full advantage of it's high profile neighbours such as Tafe Queensland, Brisbane Convention and Exhibition Centre, Southbank Parklands and number of high profile schools including Brisbane State High, a coeducational state school which was recently ranked 3rd in Queensland for 2015.
The retail component of the property is currently leased to Swampdog, a local favorite and previously awarded top 10 Fish and Chips in Southeast Queensland by the Courier Mail. The current lease term will expire at the end of 2017 with a further three year option in favor of the tenant. The current residential unit is not tenanted but a market rental appraisal is available and can be provided. Additionally due to the exposure of the property outdoor billboard advertising would be highly suitable and rental quotes have been provided by leading outdoor advertisers. Williamson Architects have provided a concept plan to demonstrate the potential development upside.
Notable benefits and features include:
- Annual Net Income of $ 89,853.75 ex GST
- Retail lease expiry October 2017 + one three year option
- Retail Net Lettable Area 220msqr
- Immediate upside to improve income
- Residential Rental Appraisal available for three bedroom unit
- Billboard Rental Appraisal available
- Refurbished late 2007
- Total land area 238msqr
- 2 Allocated Car Parks
For further information, to arrange an inspection or to register please contact your exclusive marketing agents Colliers International.