5 Doveton Street North Ballarat Central VIC 3350

This substantial refurbished retail investment property of approx 225m2 is located in a high traffic flow block just north of Sturt Street close to the recently opened GovHub which has revitalised the northern precinct of the Ballarat CBD. The property comprises a brick retail/office premises set on a site of 332m2 and includes 7 separately titled car spaces at the rear. The property incorporates an open retail space at the front and several partitioned offices, kitchen/staff room, meeting room, store room at the rear and direct access to the rear paved car park. The retail space plus one carpark is held under a 5 year lease from 1st August 2018 with 2 further 5 year options. Current rent is $ 32,895.67 pa + GST and a share of outgoings other than Owners Corp Fees. The remaining 6 car spaces are individually leased at $1,560 pa + GST each. There is also an opportunity to separately lease the rear office space to increase income or convert to apartment (STCA). Current gross return is approximately $42,255.67 pa with scope to increase. Situated in the heart of the Ballarat CBD the property represents a fantastic investment offering in this low interest rate environment.