Rare Tullamarine Offering - 3 Retail Investments. 1 Title

Sale Details

Sold on 14 Sep 2018 for $1,890,000

Description

CVA Property Consultants are pleased to offer Shops 1, 2 & 3, 191 Melrose Drive, Tullamarine for sale as one via Auction on Friday 14th September 2018 at 12pm on-site.

Positioned within a popular retail strip on Melrose Drive, the site is situated on a total land area of 587m2* with each shop featuring a building area 150m2* and excellent frontage to Melrose Drive.

Offered for the first time in over 40 years, these retail investments will provide the astute investor with three income streams totaling $76,480.08 p.a. net.

Shop 1
Tenant: Admore Realty Pty Ltd (Real Estate Agency)
Current Return: $25,261.68 p.a. net
Commencement: 1st June 2016
Term: Five (5) years + Five (5) years
Reviews: Annual to CPI

Shop 2
Tenant: Graywood Meadows Pty Ltd (Newsagency)
Current Return: $27,536.76 p.a. net
Commencement: 1st May 2015
Term: Five (5) years + 3 further terms of five (5) years
Reviews: Annual 3%

Shop 3
Tenant: Jian N Chen & Mei N Chen (Chinese Restaurant)
Current Return: $23,681.64 p.a. net
Commencement: 1st January 2016
Term: Five (5) years. No further options
Reviews: Annual to CPI

For further information please contact CVA Property Consultants.

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