Rare Freehold Investment Opportunity!

Sale Details

Sold on 14 Apr 2020

Description

For the first time in over 50 years, this freehold investment opportunity is now for sale via Expressions of Interest closing Wednesday 8th April 2020 at 3pm on site.

This exceptional main road investment is offered with a 10-year lease to long-term tenant Rendina's Wholesale Pty Ltd; a renowned butcher, delicatessen and small goods operator trading as 'Rendina's Butchery' and is currently returning $37,865.36 per annum net with a 5-year further option.

Boasting main road frontage to Belmore Road’s vibrant retail strip and rear right of way access, this prime investment sees an estimated 14,000* passing vehicles daily and shares it's location with a variety of occupants including cafés, bakeries, restaurants, take-away, speciality stores, a beauty salon, pharmacies and a grocer.

Key investment features:
- Leased to Rendina's Butchery
- 10 year lease + 5 year further option
- Lease commenced 1st January 2014
- Rental $37,865.36 per annum net
- $6,068.16 security bond + Director Guarantee
- 4% annual increases + market review at option
- Current tenant has been occupying the property since 2001
- https://rendinasbutchery.com.au

Key property features:
- Building Area: 95m2*
- Land Area: 187m2*
- Commercial 1 Zone (C1Z)
- Future development upside
- Rear access and parking

Belmore Road’s retail strip is surrounded by major arterials sitting just 67* metres from Balwyn Road and with Whitehorse Road, Burke Road and Doncaster Road all within close proximity, as well as the Eastern Freeway 3.6kms* away.

**Inspections by appointment

*Approx.
Pricing excludes GST