James Gregson Commercial is pleased to offer a substantial freehold, leased to two hospitality tenants which offer genuine potential for rental uplift and long term development potential.
Key features include:
• Land area of 369m2 approx. with 10 metre frontage and excellent rear access
• Substantial building area of 738m2 approx, consisting of two exceptionally well presented food premises with dual access and a secure garage for 4 car parks
• Ground floor leased to Taco Bill with a lease term of 3x3x3 commencing on the 1st of October 2020 (Market review 2023)
• First floor leased to Asian Lounge Chinese Restaurant with a lease term of 5x5 commencing on the 1st of September 2019 (Market review 2024)
• Combined rent of $114,455.55 plus GST and outgoings. (Please note that the current rent is only $150 PSM plus GST which in our opinion is well below market rent and provides for genuine future uplift)
• Well constructed freehold that provides the ability for lightweight construction for a 3rd floor (STCA)
• Excellent future development potential in a major growth area
• Located in Blackburn's thriving retail and commercial hub only 300m to Blackburn Station in the affluent Eastern Suburbs
• Clean, vibrant, AMAZING! An opportunity that you cannot afford to miss.
Please do not hesitate to contact the exclusive selling agents if you have any further queries or to arrange a private inspection.
Note: All figures are approximated and prospective buyers should refer to the sales documentation prior to submitting their expression of interest.
