Stonebridge Property Group are pleased to present for sale Shop 1, 28 Riddell Parade, Elsternwick
- High quality and well located 157* sqm retail premises, leased to popular local favourite Penta Café (4.2 stars from 379 Google reviews) on a 10-year lease.
- Providing net annual income of $115,927* (as at 17th June 2021) subject to 3% annual increases, with tenant responsible for all outgoings except land tax.
- Penta is an established breakfast/lunch café that is open 7 days a week and has been featured in popular forums, Broadsheet, Concrete Playground, Good Food Guide & The Urban List.
- The well exposed premises benefits from 10m* of street exposure, 2 car parks & storage cage.
- Located just a short 100m* walk from Elsternwick Station and only 50m* from the Glen Huntly Road retail precinct the property enjoys excellent accessibility for customers and high levels of daily foot traffic.
- Positioned within the mid-rise mixed use development Elsternwick Place, designed by award winning architect Jackson Clements Burrows and comprising 54 apartments + two levels of office space.
- Highly anticipated public & private projects surround the property, notably the new cultural precinct and the proposed Woolworths development both of which will draw foot traffic to the area details of these projects can be provided.
- Located walking distance from the Elsternwick Entertainment precinct in addition to the proposed Woolworths's development set to be a major driver of retail activity.
*Approx.
Shops 1 & 2, 28 Riddell Parade, Elsternwick are set to be sold via consecutive onsite public auctions Friday 7th May at 10.30am. To obtain further information or to arrange an inspection, please contact the exclusive selling agents, Stonebridge Property Group.
Nic Hage
0448 782 594
Rorey James
0439 400 081
Kevin Tong
0422 848 818
Property Code: 239
