Obrien Real Estate is pleased to exclusively offer 25 Scott Street, Melton for Sale by Expressions of Interest.
A truly rare opportunity for value-add investors seeking prime commercial real estate within a small but vibrate retail precinct in Melton. Anchored with Bottle Mart, prominent medical centre and take away food outlets ensures exceptional foot traffic along the strip.
Key property attributes include:
- Substantial two-level freehold of 180sqm providing a leased ice-cream/lolly shop on the ground floor
and a two-bedroom apartment on the first floor.
- Land area of 217sqm with frontage to Scott Street of 5.6 metres approx.
- Shop is 80m2 and the apartment is 100m2 approx.
- Holding income of $14,200 pa on the shop with future value-add with the apartment which is currently
vacant. Works will be required to make the property compliance for leasing and should realise a return
of $16,000 to $18,000 approx.
- The shop tenant has 2 more options at 5 years (2033 expiry) and is subject to a 3% increase annually
- Rear laneway access allowing for car parking, deliveries and access to the apartment.
- Exceptional surrounding retail, 2 prominent High Schools not far and a rare opportunity to purchase a retail premises which are usually tightly held.
For further information or to arrange an inspection, please contact Garry Gale on 0419523559
Disclaimer:
The information contained in the material OBrien Real Estate has supplied (the "information") is for general information purposes only. OBrien Real Estate assume no responsibility for errors, representations, or omissions in the contents of the information.
