Seize the opportunity to invest in the thriving commercial hub of Brighton. Situated on the bustling Martin Street village, this dual level retail investment offers exceptional exposure and is surrounded by an array of established businesses, adding further value to this prime location. With 4 long-term tenants and solid rental income, this property presents an ideal investment opportunity for both seasoned and new investors with upside to further develop (subject to council approval).
Key Investment Features:
Ground Floor 132A Martin Street
Tenant: Ambyanz Hair Salon (Monthly tenancy, over 16 years of occupancy)
Current Rent: $39,199.80 per annum plus outgoings plus GST
2x car spaces
1st Floor 132 Martin Street
Tenant: Port Phillip Education & Training Centre
Lease Term: 5 years (Commenced 26/04/2021)
Further Term: One further term of Five (5) Years
Current Rent: $36,934.20 per annum plus outgoings plus GST
Annual Increases: 3% with a market rent review for the first year of a further term
2x car spaces
Ground Floor 134A Martin Street
Tenant: Prince Barber Shop
Lease Term: 5 years (Commenced 09/08/2021)
Current Rent: $39,775.20 per annum plus outgoings plus GST
Annual Increases: 3% per annum including the first year of a further term
1x car space
1st Floor 134 Martin Street
Tenant: Paxton Bridge Financial
Lease Term: 3 years (Commenced 08/04/2024)
Further Term: One further term of Three (3) Years
Current Rent: $35,700 per annum plus outgoings plus GST
Annual Increases: 4% with a market rent review for the first year of a further term
2x car spaces
Combined Rental Income: $151,609.20 per annum plus outgoings plus GST.
Areas:
Ground Floor 132 Martin Street: 53m² approx
First Floor 132 Martin Street: 131m² approx
Ground Floor 134 Martin Street: 53m² approx
First Floor 134A Martin Street 131m² approx
Carpark: 162m² approx of storage and secure parking
Land Area: 368 m² approx
Land Size: 10.06m x 36.58m
Martin Street is one of Brighton's most dynamic and sought-after commercial precincts. It is well-known for its vibrant mix of boutique retailers, cafes, restaurants, and professional services. The property is just moments away from Gardenvale Station, ensuring excellent foot traffic and easy accessibility for tenants and customers alike.
The surrounding residential area is one of Melbourne's most prestigious, offering a strong customer base for the tenants. The proximity to Bay Street's shopping precinct and Brighton's famous beaches further enhances the appeal of this location. With excellent public transport connections, the Nepean Highway nearby, and a short commute to Melbourne's CBD, Martin Street is a highly convenient and popular destination.
Inspection Times:
Saturday, 19/10/2024 10:00am 10:45am
Wednesday, 23/10/2024 12:00pm 12:30pm
Auction Details:
Date: Wednesday, 23rd October 2024
Time: 12:30pm
Location: On-site at 132-134 Martin Street, Brighton
This is a rare chance to own a prime piece of real estate in a prestigious location. With secure tenancies in place and yearly rental increases, this is a must-see for investors looking for solid returns and long-term growth potential.
