Retail Investment with Long Term Lease
Situated along one of the busiest and most tightly held retail strips in Somerville, 13 Eramosa Road East is being offered to the market via private sale for the first time in 22 years.
Exposed to over 5,000 vehicles daily and enjoying the benefits of exceptional access, car parking, tenancy mix, neighbouring core services, retail and national tenants such as Aldi and Dorevitch Pathology.
Lease Details:
Current Rental PA: $50,088.51 + GST + outgoings
Initial Term: Five (5) years (commenced 01/05/2024)
Options: Two (2) further terms of three (3) years
Rental Increases: 4% annually
Tenant:
Under the new management of experienced food and beverage operators, the space has been operating as a successful café since 2009 and has become a local favourite. “Two To Tango” has seen great success, with over thirty 5-star google reviews.
“Two To Tango” Cafe is a vibrant and welcoming cafe located in Somerville, offering top-notch Commonfolk coffee and fresh, local food. With over 18 years of hospitality experience, they pride themselves on a friendly atmosphere and delicious menu options that change frequently, except for their popular Favorites.
Location:
Somerville’s accessibility via major arterials and efficient public transport, combined with a thriving business sector has seen it become one of the fastest growing suburbs. The demography has seen major shift towards young families supported by major residential developments with close access to major business hubs such as the Frankston CAD and Dandenong Industrial Estate.
Key features include:
* Well-established tenant
* Five (5) year lease term with options
* Income: $50,088.51 PA + GST + applicable outgoings
* Building area: 121sqm*
* Being sold as a “going concern” (no GST applicable)
* Plenty of car parking
* Great exposure
* Front & rear access
* 1 carpark on title
* Flexible settlement terms
Disclaimer:
For further information or to arrange an inspection, please contact the listing agent.
PLEASE NOTE:
* All information and measurements are approximates. Please refer to Contract of Sale and/or Lease documentation. All images subject to copyright.
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