Shops 1-3, 191 Melrose Drive, Tullamarine, VIC 3043

Investment | Retail

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10% deposit balance 60 days

  • Property ID: 305088
  • Floor Area: 450m²
  • Land Area: 587m²
Street View
Sold / Leased Results

Name Result Date Floor Land Result Price
Total Sold 14/09/2018 450m2 587m2 Contact Agent
Rare Tullamarine Offering - 3 Retail Investments. 1 Title

CVA Property Consultants are pleased to offer Shops 1, 2 & 3, 191 Melrose Drive, Tullamarine for sale as one via Auction on Friday 14th September 2018 at 12pm on-site.

Positioned within a popular retail strip on Melrose Drive, the site is situated on a total land area of 587m2* with each shop featuring a building area 150m2* and excellent frontage to Melrose Drive.

Offered for the first time in over 40 years, these retail investments will provide the astute investor with three income streams totaling $76,480.08 p.a. net.

Shop 1
Tenant: Admore Realty Pty Ltd (Real Estate Agency)
Current Return: $25,261.68 p.a. net
Commencement: 1st June 2016
Term: Five (5) years + Five (5) years
Reviews: Annual to CPI

Shop 2
Tenant: Graywood Meadows Pty Ltd (Newsagency)
Current Return: $27,536.76 p.a. net
Commencement: 1st May 2015
Term: Five (5) years + 3 further terms of five (5) years
Reviews: Annual 3%

Shop 3
Tenant: Jian N Chen & Mei N Chen (Chinese Restaurant)
Current Return: $23,681.64 p.a. net
Commencement: 1st January 2016
Term: Five (5) years. No further options
Reviews: Annual to CPI

For further information please contact CVA Property Consultants.

*approx

Additional Information
Features
  • Zoning: Commercial 1 Zone
  • Lease Term: Refer to Tenancy Schedule
  • Rent Review: Refer to Tenancy Schedule
  • Car Spaces: Nil
Tullamarine Suburb Profile
Average Advertised Price
Property Type Price (m²) Rent (m²/p.a.) Yield
Offices $2752 $250 9.07%
Industrial $2685 $137 5.09%
Retail $2700 $83 3.09%
This is the average advertised price, rent and yield for Tullamarine, VIC 3043*
* Excludes, where applicable, GST, outgoings and incentives. Values calculated based on the prices advertised by the agencies that list their properties on Commercial Property Guide.
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Property Detail Notes:

  • NBN Availability - Where this address stands within the nbn™ rollout. Possible statuses: Not currently available, Build preparation, Build commenced, or Service Available. Information provided by nbn™.
  • Nearby Parking - Commercial and private parking spaces available within 500 metres of Shops 1-3, 191 Melrose Drive, Tullamarine, VIC 3043. Powered by Parkhound. Visit their site to find out about parking spaces available near you.
  • Nearby Cafes - Number of cafes located within 500 metres of Shops 1-3, 191 Melrose Drive, Tullamarine, VIC 3043. Powered by Zomato. Visit their site for more information on cafes, restaurants, and bars near you.
  • 3rd Party Content - The information displayed on this page is supplied by registered real estate agents and other third parties. For questions regarding the information that appears here please contact the agent that is listed.
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