641 Plenty Road, Preston, VIC, 3072

****Under Offer****

At the peak of Metropolitan Melbourne sits a property ripe with promise in the bustling hospitality scene. This is a unique opportunity to secure a multi tenanted investment in a prime Preston location.

This property consists of 4 shops on one title, 641 Plenty Road & 235a, 235b, 235c Tyler Street, Preston with a current rental income of $82,000* p.a. Net plus GST.

This double-storey corner property sees substantial daily traffic, benefiting from high exposure. Surrounded by neighbourhood favourites like Ragtime Tavern, This Borderland, Tavolata, & Hardout, this area buzzes with opportunity & community spirit.

• Rental income of $82,000* p.a. Net +GST

• 641 Plenty Rd & 235A Tyler St: Nord Bar: $50,000* p.a. Net +GST with 4% annual increases – 3 + 3 + 3 year lease

• 235B Tyler St: Video Days: $18,000* p.a. Gross +GST with 4% annual increases – 2 + 2 + 2 year lease

• 235C Tyler St: Think Good Psychology: $18,000* p.a. Gross +GST with 4% annual increases – 2 + 2 + 2 year lease

• Large double storey corner property consists of the established restaurant bar known as ‘Nord Bar’, with a solid clientele base and late-night liquor license.

• High exposure corner with a huge amount of passing traffic daily.

• 40 m* Street frontage to Plenty Rd and Tyler St

• The commercial 1 zoning (C1Z) provides the ultimate future development flexibility (STCA)

(stca) = subject to council approval

*approx.

Inspections are by appointment only, kindly contact one of the exclusive selling agents from Gross Waddell ICR.

Remember to mention you found this property on CommercialReady