Ground Shop 16/1000 Ann Street Fortitude Valley QLD 4006
- Shop & Retail
- 178 m²
- For Sale, $1,950,000 (excl. GST)
High Yielding Retail Investment
- High Yielding Retail Investment
- Renowned Tenant 'La Dolce Vita'
- Long Term Lease
This shop enjoys a prime corner position in the 1000 Ann (Emporium) Complex adjacent to multiple national food tenants including Guzman, Tartufo, Grill'd and Johnny Rockets.
The property is also located at the entrance to the main residential tower and is one of the first properties to be seen when driving in or from Ovolo Hotel. There are two prominent areas for signage as the shop is located on the corner.
The total area is 178sqm consisting of 97sqm of internal space and 81sqm of exclusive alfresco dining.
The tenancy was leased in July 2019 by La Dolce Vita Italian Restaurant on a 5 year term with two 5 year options. Their current lease term expires on 11/7/2024.
The rent as at 11th July 2021 will be $133,903 per annum net + GST with annual 3.5% increases. The tenant pays 100% of outgoings. There is a bank guarantee in place of $53,186 plus numerous personal guarantees.
The Emporium Complex has a large parking area available to visitors. There is also 1 car space attached to the lot which is currently being used as a cold room and storage cage. There is an additional cold room in the tenancy.
The shop also has the following services available
- Grease Trap: Compliant to Brisbane City Council requirements
- Electricity: 100 amp 3 phase (minimum 100 amps per phase) to the switchboard located internally in the premises
- Exhaust - At least 3000 liters per second exhaust capacity
- Gas: Gas line and meter capable of handling 430 mega joules
- Water: Mains pressure
- Hot Water: 180l mains pressure hot water cylinder
- Common toilets: Within premises and accessible via rear exit door
- Bin area: Sufficient to hold 1 x 3 meter bin, 1 x cardboard bin, 1 x 40 gallon drum for oil removal
- Shopfront: Bifold entry doors and locks