Fully Leased & Versatile Investment in Newport's Heart.

Overview

Description

POINT OF INTEREST:

This is a wonderful retail 350 sqm* building & freehold investment featuring a marquee position right out the front of Newport railway station. Fully leased across two tenancies with with a combined income of $88,000 per annum, and exceptional and recent fit outs, this is one for investors to acquire and place in the bottom draw. Both tenancies commenced their leased earlier this year with decent current lease terms, options and annual increases.

Ground Floor:
The property’s ground floor retail space of 190 sqm* is currently fitted out as a large hospitality venue with an impeccable fit out to match the food. Currently leased to Thunder Eatery & Cafe for $55,000 per annum, it has created a cult following from the local community. A bonus - A current liquor license that goes with the premises.

First Floor:
A further 110 sqm* is upstairs on the first floor that features separate access, amenities and metering. Currently leased to Silverback Pilates Studio for $33,000 per annum who have been in the Street for many years and offer group Pilates classes, infrared sauna & wellbeing & Pilates courses. This space features a considerable fit out that will wow the most discerning of investors.

The 382 sqm* of Newport land area sits on Commercial 1 zoning, lending itself to future development potential whilst sitting directly across from the Newport railway station and amongst the suburb’s retail and hospitality hot spots. Anchored by The Junction Hotel next door, the strip sees a full house from 5 pm on Fridays, Saturdays and Sundays. Littered with a string of barbers, beauty therapists, hair salons, local wine stores, and yoga studios, Hall Street is the destination meeting point, while Newport is a busier-than-the-standard railway station thanks to the Werribee and Williamstown lines.

- Currently leased to 2 tenants: Cafe & Pilates Studio
- Combined income: $88,000 per annum
- Total building area: 300 sqm*.
- Freehold title: 382 sqm* of commercial 1 zoning.
- Current Restaurant and Café Liquor License.
- 3 allocated car spaces at the rear with right-of-way access.
- 2 km* to the West Gate Freeway.

POINT OF VIEW:
A building catching glances from train commuters heading to and from the station, and those looking out the carriage window. This prime freehold investment has prime opportunity written all over it.

*Approx.
Pricing excludes GST