This is a rare opportunity to purchase two commercial properties side by side in a fantastic location offering main road exposure right near the local Theatre and Harvey Norman.
ABSOLUTELY HUGE POTENTIAL FOR DEVELOPMENT:-
Both buildings could be demolished and replaced with a single shop, 1000 square metres in size.
Above the new shop 2 stories of units could be built. Approximately 10 * 3 bedroom units (as an example). Any building permits would need to be obtained by council, but it prime commercial land.
Land Use 1: General Commercial
Total of 1049m2 of land.
Please note that there are some existing tenants.
105 Prince Street (474.2m2)
* RENTAL :
* Main Shop $500.00 per week- Rented 2yr lease
* Rear of Building $750.00 a month – on a monthly lease
* Two bedroom unit above shop $260.00 per week Rented
107-109 Prince Street Grafton (575m2)
* 107 Prince Street $220.00 per week - Rented
* 109 Prince Street $200.00 per week - Rented
* Unit rear of 109 Prince Street $300.00 per week - Currently leased
The front of the shops are in the Main Street of Grafton CBD. The rear of the shops has access through a large car park that also houses the library. On the railway side of 109 Prince Street is a 5 metre strip leased from State Rail.
The return of both properties is $1653.00 per Week ($85956.00 per Year). (approximately 8.5% return). Keep renting whilst waiting for your development plans are ready. MASSIVE FUTURE DEVELOPMENT POTENTIAL FOR A COMBINATION OF SHOPS AND APARTMENTS!
Phone enquiries - please quote property ID 18503