Mornington Freehold with 4 Retail Shops & Residential Home all on 1 Title
Nichols Crower is pleased to offer to the market for sale 175-181 Main Street and 5 Barrett Lane, Mornington.
This exceptional property located in the heart of Mornington offers an exciting opportunity for investors or developers.
Encompassing four (4) fully leased retail shops and a spacious five-bedroom residence (split into two tenancies) at the rear, the property is being offered to the market as a whole, on one title.
This is a rare opportunity to acquire a solid investment with potential for future growth in one of the Mornington Peninsula’s most sought-after Main Street positions.
Key features include:
* Total land area: 814sqm*
* Building area: 186sqm* plus residence
* Three frontages over 20m* to Main Street, Barrett Lane and R.O.W. via pedestrian walkway
* Four retail shops: fully leased with an income of $151,034 per annum + GST*
* Five-bedroom residence: split into two tenancies (one vacant) returning $18,200 per annum* with further rental potential of $15,600 per annum*
* Zoning: Commercial 1, allowing for future development up to 11m or 3 levels (STCA)
* Prime location: positioned on the favorable western side of Main Street, ensuring morning and afternoon sunshine
* Parking: one of the most convenient locations, set amongst 1,500+ free council car parks, and bookended by 2 major shopping centres, Mornington Village (ALDI) and Mornington Central (Woolworths and Coles)
For further information or to arrange an inspection, please contact the listing agents.
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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