Seldom do opportunities like this one present themselves. In fact this property has been owned by this local family for over 60 years. Facing Victoria Street and located in the busy cappuccino strip, it sits among other quality properties, where all the action is.
It is 341m2 in size and has a frontage on Victoria Street of 9.17 metres. The site consists of two older style strip shops of masonry and Iron construction and have a combined net lettable area of 164m2. There is further opportunities to improve this investment, as the property is currently under developed, and has approximately another 80m2 of land that could be further developed. (Subject to council approval)
The property is divided in to two tenancies and both are currently leased showing a ROI of 7.2%.
There is also a private right away giving access to the rear of the property. Currently zoned Regional Centre, this is a property you really should be considering to top up your property portfolio.
For more details, please email agent