High-yield with Long Standing Tenant
Situated along one of the busiest and most tightly held retail strips in Somerville, 1/1085 Frankston-Flinders Road is being offered to the market with an exceptional tenant in place.
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.
The tenant “We Know Loans” has been operating from the site for over 14-years and has never missed a beat!
Lease Details:
Current Rental: $25,679.92 per annum + GST + outgoings
Term: Two (2) years
Options: One (1) further term of two (2) years
Rent Revies: Reviewed annually via CPI and a market review at option
The lease has favourable rent review mechanisms with the rental PA being adjust annually via CPI and a market review at options offering significant and genuine up-side opportunity via a rent reversion based on the very modest rent being $262p.sm.
Key features include:
* Long standing tenant
* Two (2) year lease term with a option
* Income: $25,679.92 PA + GST + outgoings
* Building area: 98sqm*
* East-facing shop
* Being sold as a “going concern” (no GST payable)
* Genuine up-side via rent reversion
* Plenty of car parking
* Great exposure
* Front & rear access
* Flexible settlement terms
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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