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2 St Kilda Road, ST KILDA, VIC, 3182

2. Property Highlights

Brand New 10 Year Net Lease to Established St Kilda Road Café
  • Prime Corner Position
  • Attractive 3.5% Rent Increases
  • Tenant Pays All Usual Outgoings

Burgess Rawson is pleased to offer to the market Hugs N Mugs Cafe, St Kilda VIC for sale via our Auction Investment Portfolio 159

The property has the following investment highlights:

+ New 10 year net lease to February 2033 plus options to 2043

+ Hugs N Mugs: long-standing café within one of Melbourne’s most awarded and recognized landmarks, ‘The Icon’ building

+ Attractive 3.5% rent increases, ensuring rental growth

+ Investor preferred net lease terms with tenant paying all usual outgoings

+ Single tenant minimum management investment

+ Well-presented 60sqm* shop plus 2 secure car spaces and storage area on title

+ Irreplaceable corner position on St Kilda Road with frontage and exposure to 56,000+ cars passing daily**

+ Conveniently opposite Gurner Group’s new $300M Build -to- Rent development project providing 300 residences - expected completion 2024

+ Neighbouring Wesley College, The Alfred Hospital, Albert Park and only within metres from Fitzroy Street home to Woolworths, BWS, The European Hotel, Prince Dining Room, The Fifth Province and more

+ St Kilda Road: Established commercial and residential precinct and important gateway connecting the Nepean Highway and Eastern and Bayside suburbs to the Melbourne CBD

+ Net Income: $33,000 pa*

To be sold by Investment Portfolio Auction

10:30am AEDT Wednesday 29th March 2023

Crown Casino, River Rooms, Melbourne

*Approx

**GapMaps

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3. Property Location

2 St Kilda Road, ST KILDA, VIC, 3182

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4. Due Diligence

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