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378 Burnley Street
Richmond VIC 3121
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Sold on 21 Sep 2023

378 Burnley Street Richmond VIC 3121

  • Shop & Retail
  • 200 m²
  • Sold

Investor's Dream Opportunity!

    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.

    Steveway Real Estate
    Steveway Real Estate
    235B Church Street
    Richmond, VIC 3121

    Property Highlights

    Date Sold21 Sep 2023
    Floor AreaAsk Agent
    Land Area200 m²
    ParkingOn site parking available
    Building TypeWhole building
    Property ID2018751718
    Category
    Last updated  8 Jan 2024
    Map for 378 Burnley Street Richmond VIC 3121
    Steveway Real Estate
    Steveway Real Estate
    235B Church Street
    Richmond, VIC 3121

    Property Highlights

    Date Sold21 Sep 2023
    Floor AreaAsk Agent
    Land Area200 m²
    ParkingOn site parking available
    Building TypeWhole building
    Property ID2018751718
    Category
    Last updated  8 Jan 2024

    Co-Agents

    Andrew Kolovos
    Steveway Real Estate
    Call
    0402090922

    More about 378 Burnley Street Richmond VIC 3121

    378 Burnley Street Richmond VIC 3121 is categorized as Shop & Retail Property. It has a land area of 200 m². The listing ID for this property is 2018751718.

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