Retail Investment In Great Company!

Sold - 24 Centreway, Mount Waverley, VIC 3149

Investment (Retail)

Sale Details

Total - Sold on 12 Mar 2020

Building Area 152m2
Yield: 3.24%


Sale History ID: 12115
Property ID: 16154
Advertised Price: Contact Agent


Iconic investment opportunity now offered for sale for the first time in nearly 30 years via Public Auction on Thursday 12th March 2020 at 12pm on site.

24 Centreway is perfectly positioned neighbouring a multitude of retailers including Coles, Bakers Delight, Priceline Pharmacy, Australia Post, Vintage Cellars, Flight Centre and is directly opposite a large customer car park and a multilevel office building servicing Australian Red Cross, United Energy and Multinet Gas Networks.

The property is nestled in the heart of Pinewood Shopping Village and comprises 152m2* ground floor retail space with amenities, rear access and a 6m* glass frontage facade providing great natural light and exposure to Centreway.

The subject property is currently leased to an established cafe operator 'Cannoli & Co Pty Ltd' who have recently renewed their lease for 5+5+5 years with a commencing rental of $75,000 per annum net.

Key Investment features:
- Leased to Cannoli & Co Pty Ltd
- Renewed 5+5+5 year lease from 8th October 2019
- Rental: $75,000 p.a. plus GST and outgoings
- Security deposit bond + director guarantee
- Established retailer with two locations

Key Property features:
- Building Area: 152m2*
- Amenities & rear access
- Commercial 1 Zone (C1Z)
- 6m* frontage to Centreway
- Directly opposite a large customer car park
- 15m* from Coles & surrounded by established retailers

**Open for inspection: Thursday 5th March 2020 from 2pm - 2:30pm

Further enhancing its proximity, the property is just 300m* away from the Monash Freeway and also provides convenient access to major arterials such as Blackburn Road, Waverley Road and Ferntree Gully Road.

Pricing excludes GST

Additional Info

Occupancy Tenanted: Cannoli & Co Pty Ltd
Lease Term 5+5+5 Years
Rent Review CPI annual increases
Commenced 8th October 2019
Bonds / Guarantees Equivalent 1 months rental + personal guarantee
Car Spaces Common parking at rear
Car Parking Fees N/A
Outgoings Payable By tenant as per lease

Agent Details

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