Jones Real Estate is privileged to present 7 Paisley Street, Footscray to the market For Sale via Public On-Site Auction on Thursday 20 June 2024 at 4:30pm.
This increasingly rare fast food investment opportunity is ideally situated within the commercial and retail hub of Footscray, surrounded by key tenants and suburb icons such as; Coles, Kmart, Chemist Warehouse, Snap Fitness as well as the famous Footscray market. The property is also underpinned by its proximity to transport amenity being a mere 100m* from Footscray Train Station, as well as a plethora of major arterial road networks such as Barkly Street, Princes Highway, Footscray Road, Dynon Road and the West Gate Freeway, allowing for seemless connectivity to Melbourne's CBD and surrounding suburbs.
Footscray has been rapidly evolving over the past 10 years due to a myriad of private and public investment including one of the state's largest investments in health infrastructure in the nation's history with the development of the new $1.5 Billion Footscray hospital. Operated by Western Health, the new hospital will span five buildings, employ 5,000 people, and treat an extra 15,000 patients each year.
Key features of this terrific investment include:
- Situated upon a 143sqm* landholding, the property is located near the intersection of Leeds & Paisley Street.
- The property offers 241sqm* of NSA across two levels, features 5m* of street frontage and is further enhanced by rear lane way accessibility.
- The property is tenanted by multi-venue hospitality operator 'New York Minute' who have six (6) locations across Melbourne.
- Securely leased on an initial five (5) year lease, with a further optional term of five (5) years and is returning a net income of $67,279.09 per annum + GST & Outgoings with fixed annual increases of 4%.
- Located in the central hub of Footscray's retail precinct, home to major tenants such as Coles, Kmart, Westpac, Commonwealth Bank and the renowned Footscray Market.
- The property is blessed with Activity Centre Zone - Schedule 1 allowing for multiple future uses as well as significant development potential (STCA).
*Approx.
For further information, please contact the exclusive selling agents.
Disclaimer: Sizes and dimensions described are approximate. Parties should not rely on the information contained within this summary; we recommend seeking professional advice before proceeding.
