Consisting of five titles of approx. 220sqm each for a total land area of 1,106sqm. The property has been used as an extremely successful, printing business for over 14 years. The lease is due to expire 30th November 2023, annual rent increase is 1.5% or CPI which ever is greater. The current lease is $66,791+GST plus outgoings (with a 1.5% increase due on 30th November 2021).
The building is an aged brick and iron construction in good condition of 628m2. The entire property is used by the printing company and parking for approximately 15 cars is available. The property further features corner street frontage to Acton Ave and Francisco Street.
Situated on five separate titles with full four street frontage (2 being ROW) the property would very simply present to the market as five green titles for residential development. Our preliminary enquiries to the City of Belmont, show that it may be feasible to be constructed up to 2-3 storey of a mixed use development residential / commercial.
Expressions of interest - closing 5pm WST 15th December 2021 * if not sold prior.
Title Details 81-89 Acton Avenue, Rivervale
81 Acton Ave 1/D21345 Volume 2882 Folio 79 size 212m2
83 Acton Ave 2/D21345 Volume 2882 Folio 80 size 228m2
85 Acton Ave 3/D21345 Volume 2882 Folio 81 size 228m2
87 Acton Ave 4/D21345 Volume 2882 Folio 82 size 228m2
89 Acton Ave 5/D21345 Volume 2882 Folio 83 size 210m2
*Note attached - ROW and road widening provisions and sewer search.
Local Authority
City of Belmont
Zoning
Zoned Commercial
City of Belmont TPS No. 15 (TP515)
Interest Offered
100% Freehold - all five titles to be sold with existing lease to commercial building of 628m2.
Lease
5 years 2 x 5 year options commenced 1st December 2008, expire 30th November 2023. Current lease payable $66,791pw + GST + outgoings. Annual Rent renewal 1.5%/CPI whichever higher 30/11-2021, 2022. Personal guarantees in place.
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