DEVELOPMENT OPPORTUNITY WITH INCOME
SOLD!
Crabtrees are pleased to offer for sale by public Auction this excellent retail investment property with development upside (STCA)
Lease details
• 3 year lease from 1st April 2016 with two further terms of 3 years (includes 6 month demolition clause)
• Currently returning $19,570.82 per annum NET
• Annual 3% rent increases with market review in 2019 & 2022
• All outgoings are paid by the lessee
Features
• Total land area of 426m2*
• Total building area of 150m2*
• Favourable Commercial 1 Zoning
• Retail shop of 82m2*
• Two bedroom dwelling to the rear
• Convenient Rear access
• Potential multi-unit mixed use development site (STCA)
Situated within walking distance to Westall Secondary College, Westall Train Station, Bus stop, parklands, local shops, post office and only minutes away from Monash Medical Centre and in close proximity to Monash University. Over recent years there have been numerous developments within the immediate area completed, currently under construction or soon to commence (including the adjacent property)
Located in a tightly held retail strip, this is a very rare opportunity to secure an investment with development upside.
AUCTION: Wednesday 4th October 2017 at 11am onsite
*Approximately
Remember to mention that you found this property on Developmentready.com.au
