Here's your opportunity to secure a retail premises in the tightly held Orbost CBD in beautiful East Gippsland. There are two buildings being offered with the street front building currently operated as a Tattoo Studio by the owners, whilst the rear building has been converted to a Barber Shop and is leased out. The main building consists of a reception area, three rooms/offices, a lunchroom with sink and separate toilet whilst the rear building is a single room with a small bathroom.
There's plenty of history in both buildings, however the current owners have spent significant time and money modernising them. Recent improvements to the main building include new floors and flooring, new lighting, electrical rewiring, the installation of commercial style reverse cycle air conditioning and the fitment of a new security system.
The rear building, which was originally a storeroom, has been fully plumbed and insulated, rewired, had new flooring and a split system air conditioner and a new bathroom installed. This character filled space incorporates local reclaimed materials where possible. A recently landscaped private courtyard between both buildings is a great spot to get some fresh air or enjoy a cool drink after a day's work.
The premises is located in a high traffic area on the high side of Nicholson Street, next to the IGA Supermarket. Council managed parking is located near the rear which incorporates electric vehicle charging and public toilets. One hour parking is available on both sides on Nicholson Street, whilst all-day on street parking is available only a short stroll away.
The Barber Shop at the rear is currently privately leased on a month-to-month basis leaving the new owner free to negotiate mutually agreeable lease terms for this space. Upon sale, the Tattoo Studio will relocate leaving the new owner the freedom to utilise this space themselves or place their own tenant in the building. With very little available space in the Orbost CBD, the new owner should have little difficulty finding a suitable tenant. Zoned Commercial 1, the current configuration could suit a service business, professional office, treatment rooms, consulting rooms or a boutique retail store.
With a potential rent of around $500 per week, this property represents a unique opportunity to achieve an above average gross rental return of approximately 11.8%. Alternatively, occupy the main building and offer the rear building for lease! For all enquiries or for more information please contact Richard Ivey @ Coast to Country Real Estate on 0401 113 310.
