44/2-60 West Row, CITY ACT 2601
$2,250,000 GSt exempt
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- 9 Aug 2016
Iconic CBD Investment or Potential Owner Occupier Opportunity
2-60 West Row, part of the iconic Melbourne Building, is an historic two storey property that was virtually rebuilt and strata titled in the late 1990's. The building houses a total of 50 units, comprising ground floor retail/restaurant premises and the first floor currently operates as serviced apartments.
The subject unit is approximately 242 sqm in size and is presently tenanted by Asian Cafï¿½. The unit enjoys its own toilets, own air conditioning, rear access, has basement storage and an internal,outdoor courtyard. The long standing tenant, Asian Cafï¿½, have a high quality fit out, their lease expires on the 12th of September 2018 and the lease provides for 3.5% annual rental increases.
They have taken full advantage of the floor space by providing the following to their customers;
- Take away option at front of the unit
- Small bar
- Sit down seating and
- Private function room
The location of this property within the thriving City West Precinct is also a very positive factor when considering it as an investment. The proximity to the Law Courts, Australian National University and proposed Capital Metro Light Rail, coupled with the development of new buildings and repurposing of old buildings as residential apartments and stsudent accommodation is underpinning the future property values in this area.
Call Mark Thompson to inquire on this fantastic opportunity and arrange an inspection today.
1 Bligh street, SydneyGrade A
Building AmenitiesAvg. rent (net):$800 - $1000Avg. outgoings:$162Vacancy rate:13.5%Data from Colliers Edge.For information click hereMajor TenantsNabers energyAdditional information
44/2-60 West Row CITY