Thursday, October 26, 2017 at 12 noon on site
390-392 Hampton Street, Hampton
Nichols Crowder is proud to offer to the market a rare, double-fronted retail property with first-floor apartments at 390-392 Hampton Street, Hampton. Set for auction on October 26 at 12noon on site, the property provides substantial upside potential via the apartments and rooftop terrace.
Comprising 2 shops, 2 apartments, and a planning permit for an additional 2-bedroom penthouse on the rooftop, there are current income streams and future opportunities for investors and developers alike. The retail shops have two new 3-year leases totalling $78,949 per annum plus GST, with options to renew. With potential income from the residential component at $57,100 per annum plus GST, the total estimated income for the whole property (excluding the potential penthouse) is around $138,000 plus GST. The existing residential apartments are being sold with vacant possession.
James Glen, Senior Sales Executive, says, “This quality property on land of 298sqm is in a fantastic location, providing short-term and long-term investment options and flexibility. With approvals for a 2-bedroom penthouse apartment on the rooftop, there is significant opportunity for greater income and future growth.”
Inspect as advertised or by appointment.
Saturday, October 7 and 14, from 10:00am to 10:30am
Thursday, October 12 and 19, from 11:00am to 11:30am
Thursday, October 26, from 11:30am to 12:00noon
NB: All areas and measurements are approximate. All prices are plus GST, unless otherwise stated.
For further details, please contact:
James Glen Sally-Anne McQuillan
0401 493 277 0400 203 203