John H Castran Pty Ltd are pleased to offer by public auction one of Melbourne’s best known and respected freeholds.
The tenant has just spent approximately $1million renovating the freehold and a long term lease is in place with a $130,000 bank guarantee and 4%/CPI increases per annum (alternate years). No fuss, no complications, very easy, very understandable and very attractive to landlords.
The four storey building has excellent street presence and has external table seating as well as a fantastic roof top area.
Hardware Lane has always been home to Melbourne’s café street culture. Its success lies in the wonderful community feel of the streetscape and the excellent range of tenants in the precinct. The foot traffic is prodigious.
- Long term lease
- Magnificent building and location
- Tenant has spent over $1 million on renovation
- 12 year lease term
- Rent: year 1= $350,000
year 2= $260,000
4% increases thereafter
outgoings are tenant's responsibility
- Area approx 800sqm over 4 levels including rooftop area
AUCTION Friday 18th September at 12 noon
