Spice Up Your Investments
Nichols Crowder is delighted to present Shop 1/428 Nepean Highway, Frankston to the market. Perfectly positioned on the region’s busiest highway, the property enjoys exposure to more than 30,000 passing vehicles daily.
The property is strategically located close to three approved residential developments (one being next door), which when completed will deliver an additional 343 apartments to the immediate area, further strengthening future trade for the tenant. Within the Frankston CBD, the property is close to many major national retailers including Bayside Shopping Centre, Dan Murphy’s and McDonald’s.
The tenant operates as a licensed restaurant offering wonderful spicy Hunan cuisine, and the property is securely leased until 6 November 2029, with a further 5-year option.
Key investment highlights:
* Returning $78,090 per annum + GST + outgoings
* Fixed 3% annual increases
* Lease term: 5 years expiring 6th November 2029
* One further option term of 5 years
* Building area: 220sqm*
* Prime position on a high-traffic arterial road
* Front & rear access
* Liquor License for 100 Patrons
* Selling as a going concern (no GST payable)
* Flexible settlement terms
For further information or to arrange a private inspection, please contact the exclusive listing agents Karl Aslett or Linda Ellis.
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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