Located in the popular 700 block of Sturt Street, this multi-tenanted investment property offers not only a terrific income stream but also the chance to plan for future income or occupancy of the large first floor space for either office use or conversion to a large apartment with council consent.
The ground floor of the property which provides 3 separate retail shops is fully occupied showing a current gross return in total of approximately $109,498pa with the tenants also responsible for outgoings. All of the businesses are well established and the shops are presented to a high standard. The first floor space extends partially above the 3 ground floor shops and the current configuration includes 6 small offices and one large open space plus toilet.
The titles include parking spaces at the rear whilst the main site area of approximately 537 sqm has an extensive frontage of 14.34 metres to Sturt Street. With historically low bank investment interest rates, well leased commercial property offers a viable option for higher returns and the appeal of a bricks and mortar investment.
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