High Street Freestanding Investment - 100% Tenanted For Over 30 Years
25 Caxton Street, Petrie Terrace, QLD 4000
Ray White Commercial (QLD) are pleased to exclusively offer 25 Caxton Street, Petrie Terrace QLD for sale by Auction on Friday 14 December 2018, 10:15am at Level 26, 111 Eagle Street, Brisbane City QLD.
This is a rare opportunity to acquire a high street freestanding retail investment that has been 100% tenanted for over 30 years.
Previously tenanted by the award winning Rags Garden Restaurant, this property offers a rich history and is now tenanted by Enzo and Sons, the latest brainchild of the highly experienced restaurateurs Jamie and Siarah Webb.
Jamie and Siarah have a proven track record including the famous Lefty's Old Time Music Hall (15 Caxton Street) and Seymour's Cocktails and Oysters (19 Caxton Street).
Key Investment Attributes:
- 5 year net lease to 31 August 2022 + options to 2032
- 296sqm** building area comprising 120 seat restaurant/bar and first floor self contained apartment
- Expansive 99sqm** undercover beer garden with bar/pizza oven
- Dominant 350sqm* land parcel with exposure to over 17,200 cars passing daily^
- 200m* to Suncorp Stadium and 500m* to $5 billion Cross River Rail and $2 billion Brisbane Live developments
- Affluent precinct with household income levels 34% above the QLD average^^
- Fixed 3.5% annual increases underpinned by a 3 month bank guarantee
- Net income of $90,540* + GST p.a.
*Approximately
**Estimate only based on building plans
^Sitewisely
^^Location IQ