Mixed-Use Development with Income
Auction Wednesday 19th May 2021 at 12.30pm on site.
A remarkable opportunity to purchase a double frontage mixed-use development site in Mornington on the Mornington Peninsula.
Moments from Main Street retail precinct and across the road from Flinders Park, this property ticks all the boxes when it comes to an opportunity to occupy, invest, add-value to the existing improvements or completely redevelop the site (STCA).
Currently occupied by two tenants, Bays Auto Paints at 29-31 Yuilles Rd (since 2004) and a residential property at 32 Wood St on a monthly tenancy.
The commercial lease expires in April 2022, providing the option for vacant possession, however, the tenant has expressed a strong interest to renegotiate a new long term lease.
The property offers an income stream provided by both tenancies with the potential to either develop the site around the existing premises or start from scratch, the choice is yours.
Further benefits of this irreplaceable site include:
* Significant land holding of 907sqm*
* Building area: 190sqm (29-31 Yuilles Road)
* Two bedroom residential property (32 Wood Street)
* Two street frontages (Yuilles Rd & Wood St)
* Prime Commercial 1 Zoning
* Double fronted retail with stable income
* Perfect investment, redevelopment or value- add site (STCA)
* Terms: 10% deposit, balance 30/60 days
For further information or to arrange an inspection, please contact:
Jamie Stuart – 0412 565 562
Tanya Scagliarini – 0438 289 859
Josh Monks – 0409 335 179
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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