BEACHSIDE STRIP WITH PARLIAMENT OF VICTORIA TENANT.

Sale Details

Sold on 20 Jun 2024 for $1,280,000

Description

POINT OF INTEREST:

Investing in property always has some degree of risk, but when you consider a recently leased Bayside asset to the Parliament of Victoria — this is a foolproof move. Sitting directly within Chelsea’s main retail, grocery, and hospitality high street (and doors away from the popular Castello's Longbeach Hotel), this recently re-developed 148 sqm* retail asset immediately attracted a myriad of tenants hoping to occupy. It was ultimately leased to the Parliament of Victoria with a five-year term for $66,000 per annum, a fair exchange considering the dual-street frontage to Nepean and the rear Avondale Lane where 2 car parks sit, plus the brand new shop front, air conditioning system, suspended ceiling, lighting, kitchen and bathroom amenities. A busy thoroughfare at all times, peaking in summer, and for the locals to collect their necessities, Chelsea Beach is only a few minutes walk from here, and the train station is a cruisey five-minute walk too.

- Leased to Parliament of Victoria on a 5+5+5 year lease from February 2024.
- $66,000 per annum in gross leasing income.
- Suit 5.5-6% yield investors.
- Redeveloped to Parliamentary specifications.
- 148 sqm* total building area with comprehensive fit-out throughout.
- 229 sqm* total land area.
- Commercial 1 zoning.
- 2 on-site car spaces at the rear.
- Over 100 car spaces in close proximity.
- 300 m* to Chelsea railway station.

POINT OF VIEW:

Chelsea is already predicted to be the new Mordialloc, and by investing in a piece of its main retail and hospitality strip, you’re getting three steps ahead. Coincidentally, the beach is only a few extra steps down that path from here too.

*Approx.
Pricing excludes GST