Discover the potential of this lucrative investment - a premier commercial retail property located steps from the corner of Swan & Burnley Street. Securely leased to the renowned "Heart Coffee," this property promises a steady income stream with exciting future upside for investors, developers and owner occupiers.
Income-Generating Asset: Currently leased to Heart Coffee, offering a solid annual return of $36,000, set to increase to $37,080 per annum on 15/10/2023, with the tenant covering all usual outgoings, your investment is hassle-free.
Lease Details: The lease term commenced on 15/10/2022, with a generous five (5) year duration, providing stability and peace of mind for the foreseeable future.
Further Terms: Two further terms of Five (5) years
Increases: Yearly by 3% with a market rent review at the first year of the further terms.
Development Potential: Spanning approximately 200 sqm of prime land with rear access from Canterbury Street, this property offers exciting opportunities for future development (subject to council approvals). Unlock its full potential and watch your investment grow.
Located in the bustling heart of Richmond, you're surrounded by the vibrancy of this thriving suburb, including restaurants, shops, and excellent transport links including luxury automotive brands, Australia Post Head Office and several developments proposed in close proximity.
The property consists of an open plan single level building with polished concrete floor, excellent rear access via Canterbury Street to court yard/car park.
Land size: 6.34m x 32.16m approx
Land Area: 200 sqm approx
This is your chance to secure a commercial investment with both immediate returns and the potential for substantial future growth.
