Rolling In The Dough - Prime Retail Investment - 10+5+5+5 Year Lease

Sale Details

Sold on 17 Jun 2015 for $1,953,000

Description

CVA Property Consultants are delighted to offer you the opportunity to secure this prime retail investment property located in the heart of Northcote's "Westgarth Village" precinct for sale by Public Auction, Wednesday 17th June 2015 at 12pm on site.

The property is leased to Phils Bakehouse & Cafe on a new 10 + 5 + 5 + 5 year lease from January 2015 and is returning $70,000.00 per annum plus outgoings as per lease. The cafe specialises in coffee, cakes, gelati, sandwiches, pastries, gourmet pies and foccacia's and has been in operation for over 30 years and has a very established clientele underpinning the outstanding investment opportunity presented here.

Situated north-east of the city you'll find Northcote/Westgarth, a hip neighbourhood centred around the laidback cafes and venues of High Street. The precinct has blossomed over the past decades into a spirited, multicultural, inner-city area that enjoys a relaxed lifestyle, all of which revolves around High Street where you'll find a multitude of cafes, alongside interesting boutiques, bars, band rooms and the Westgarth Cinema.

Bikes are very popular in Northcote, but public transport is also excellent with trams, buses and train stations easily accessible. Westgarth Railway Station is just 350 metres (approx) to the east and the number 86 tram is directly outside the property.

Major arterials include Hoddle Street 600 metres (approx) from the property and the Eastern Freeway under 2.5 kilometres (approx).

Auction - Wednesday 17th June 2015 at 12 noon on site.
Open for Inspection Thursday 2-2.30pm.