Are you searching for a lucrative commercial property investment? Look no further! We are pleased to present an exceptional opportunity to acquire a prime property in the bustling heart of South Melbourne. This attractive commercial space is currently occupied by the renowned Trillium Cafe and is generating a solid rental income.
Building Area: 55 sqm approx
Location: Situated on Market Street, this property enjoys high visibility and excellent foot traffic. South Melbourne is a vibrant and sought-after area, known for its thriving business community and proximity to various amenities, close to South Melbourne Market, Clarendon Centre and the Spotlight development!
Tenanted by Trillium: The cafe occupying this space, Trillium, has established itself as a local favourite, attracting a loyal customer base. With a strong lease agreement in place, this property offers a secure and stable income stream.
Lease Details: Originally commenced 08/11/2016
Current Lease: Five (5) Years which commenced 08/11/2021
Further Term: One further term of Five (5) Years
Increases: Yearly by 3%
Rental Income: $41,791.83 per annum plus outgoings plus GST from the 01/11/2023. This attractive rental yield ensures a solid return on investment from day one.
Modern Interiors: The property boasts contemporary interiors, providing an inviting and comfortable atmosphere for customers. The sleek design and thoughtful layout create an ideal setting for the cafe business.
Ample Space: The commercial property offers generous space for seating and food preparation and includes a secure undercover car space, storage cage, grease trap and exhaust ducting. The well-utilized layout allows for efficient operations and provides flexibility for potential future ventures.
Prime Investment: With its prime location, established tenant, and attractive rental income, this property represents an exceptional investment opportunity for astute buyers seeking steady cash flow and long-term capital growth.
All outgoings paid by tenant:
Council Rates $1,630.00 pa approx
Owners corporation fees $2,960.00 pa approx.
Water Rates Approx $1,000.00 pa approx
