338 High Street Northcote VIC 3070

Thriving local restaurant plus first floor 3-bedroom residence.

Northcote's High Street has long been famous for its exciting mix of specialty retailers and eateries. GrayJohnson is pleased to offer for sale this outstanding retail property in the heart of this bustling precinct.

The opportunity
Two-storey solid brick building
Land area 319 sqm*
Building area: 215 sqm*
Ground floor restaurant of 113 sqm* with first floor residence of 102 sqm*
Additional Garage and store room of 44 sqm*
5.9 m* frontage to High Street
Rear access via roller shutter door from Balgonie Place
5-year lease plus further 5-year term to popular Vietnamese fusion restaurant "Ginger & Chives"
Returning $64,435 pa + GST & outgoings

The two-storey building is home to a successful and well-reviewed Vietnamese restaurant with a full commercial kitchen and dining area on the ground floor. Included on the existing lease is a first-floor, three-bedroom residence with a separate entrance from the rear.

The property includes a large garage opening from the rear right-of-way, a separate store room and a large rear courtyard area. With a 5-year lease term expiring in April 2028 and a further 5-year option, this represents an excellent opportunity for the investor to acquire a property with a bright future in a sought-after retail hub

The location
Bustling retail and dining precinct
7 km* from Melbourne CBD
Short walk to Northcote Station
Route 86 tram past the door

Located some 7 km from the Melbourne CBD, the property is well served by public transport with a tram at the door and the Northcote Railway Station a short walk away. It is surrounded by a diverse range of hospitality and retail businesses.

Opportunities in this sought-after precinct, especially with favourable lease arrangements in place, don't come along every day and we expect considerable interest from investors seeking ongoing returns.

*approx.
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