POINT OF INTEREST:
Much more than a convenient retail investment, this portfolio prize reaps the benefits of its location in its current and future state. A shopfront that has rarely seen a moment unoccupied is now on the market with a secure tenant in tow. A leasing income of nearly $35,000 per annum is guaranteed with two years to go on the current 5-year agreement and a fixed annual increase of 3%. The value isn’t just in the internal figures, though. The city-fringe location has provided plenty of foot traffic, and so too have the surrounding businesses and amenities like the Royal Melbourne Hospital, a popular fish and chip shop, and the Albion Hotel on the corner. What’s more, a mega residential and urban design development is in the works and on the block, guaranteed to enhance all businesses with the same postcode. A central location includes clever commuting; the 57-tram is on your doorstep or the Citylink is under a kilometre away.
- Leased income of $34,750.96 per annum
- The 5-year lease commenced on the 8th of April 2020
- Further lease terms of 2 x 5 years with a fixed annual increase of 3%
- Potential yield of over 5%
- 5 m* frontage to Haines Street
- 50 sqm* total building area
- Commercial 1 zoning
- 400 m* from Flemington Road
- 860 m* from the Citylink
POINT OF VIEW:
When the future premium apartments have their affluent renters, they’ll be looking to spend their money on what’s convenient and close by. The point: The only thing more lucrative than getting into the residential market here, is the retail real estate.
*Approx.
Pricing excludes GST