Adam Grbcic and Tony Grbcic from Kollosche Commercial are proud to present to the market 22-28 Davenport Street, Southport formally knows as Thams Court ("The Property") which is a historic building situated in the Centre of the China Town Precinct. This is the largest holding in one line in China Town and is positioned in the centre of the precinct.
The China Town Precinct is both tightly held and popular due to its artistic and cultural streetscape, council organised events and historically low vacancy rates.
The Property offers the following key attributes:
- Land Size: 292m2 (with 4 amalgamated titles)
- 2 Level concrete construction building which is currently configured into 8 retail and commercial tenancies
- Gross Lettable Area: 580m2*
- Total Retail Shops: 4 tenancies
- Total Commercial Offices: currently configured into 4 offices
- Multiple access points from the front and rear of the asset
The Key investment attributes include:
- Currently occupied by 7 tenants with a diverse mix of retail and commercial tenancies
- Retail Tenancies range from 25-95m2*
- Commercial Tenancies from 90-120m2*
- Gross Income: $173,860 + GST
- Tenants are well established with leasing ranging from 12 months to 5 years
The Property comprises a rare multi-lot holding in one of Southport's most desirable and tightly held precincts. China Town has historically had a low vacancy rate and attracts long standing tenants who benefit from the vibrant activities and events run by the local council, abundance of free parking surrounding the precinct and its connectivity to Australia Fair Shopping Centre and Southport Central Retail Precinct.
The Vendors have committed to returning overseas and therefore this property must be sold on or before Auction. The Auction will be held in rooms Friday 12th May at 10am at the Kollosche HQ, 2/19 Elizabeth Avenue, Broadbeach (Oracle West, Level 1).
Please contact Agents for an inspection and access to the Due Diligence Drive.
Disclaimer: Whilst every effort has been made to ensure the accuracy of these particulars, no warranty is given by the vendor or the agent as to their accuracy. Interested parties should not rely on these particulars as representations of fact but must instead satisfy themselves by inspection or otherwise.
This property is being sold by auction or without a price and therefore a price guide cannot be provided. The website may have filtered the property into a price bracket for website functionality purposes.
Remember to mention you found this property on CommercialReady
