Foot Street - Fabulous Secure Freehold Investment
Sam’s Café has operated here at 49 Foot Street for close to 30 years. The current tenant has operated the café for 25 of those years. Now that’s impressive.
Out of 23 strip shopping groups in the City of Frankston the Foot Street group is one of the busiest. Why? Sam’s café has a lot to do with the group’s popularity.
The group of shops isn’t just the centre of the local community, it’s an appealing destination for others too. Plus people want to live, study and work in Frankston, particularly in the Frankston High School Zone, and the High School is close by in Foot Street. It’s a perfectly positioned local shopping destination.
The building is approximately 180sqm over two levels, comprising the shop and two-bedroom residence. On the ground floor there is the front retail/café, plus a kitchen/dining/lounge, WC and large garage opening on to Warrain Lane at the rear. The first floor houses two bedrooms and a shower room/WC. The Tenant occupies the whole building.
Features include:
* Building area: 180sqm*
* Land area: 188sqm*
* Lease term of 5 years expiring 31/05/2030
* One further 5 year option
* Rental $45,000pa + GST
* Annual rent reviews of + 4%
* Outgoings are paid by tenant + GST
* Excellent tenant with their excellent business, who pays rent on time
* Being offered as a Going Concern
For sale by Private Treaty.
Terms: 10% deposit, balance 30/60/90 days.
Please contact the listing agent for further information and to arrange inspections.
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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