** SOLD **
Gross Waddell ICR is pleased to offer this bustling inner-city retail investment located on the ever popular Errol Street as part of the ‘Signature Auction Portfolio’.
https://gwicrsignatureauctionseries.com.au/
• Prime single-storey retail freehold investment and leased to a long standing tenant; Snax Cafe
• Net income of $64,383* per annum with fixed 3% annual increases
• New 3 x 3 year lease
• Established food and beverage operator
• High profile position near corner of Errol Street and Queensberry Street and adjoining 7-Eleven
• Benefitting from rear land access and resides on 116 sqm* of Commercial 1 Zone (C1Z) land
• Less than 1km* from Melbourne’s CBD and close to the Arden Urban Renewal Project, a 50ha* precinct which aspires to accommodate approximately 34,000 jobs and 15,000 residents (source: City of Melbourne)
• A huge array of Melbourne’s most sought after cafes, restaurants and gentrified pubs are within close proximity
• Outstanding connectivity to the Medical and University precincts which will be further enhanced with the new metro tunnel linking North Melbourne to the wider Melbourne region
• North Melbourne is a city fringe jewel and boasts a median house price of $1,500,000 and a 14.7% quarterly price growth (source REIV)
The property is to be sold via Public Auction as part of the ‘Signature Auction Portfolio’ and held at Leonda by the Yarra from 11 am on Thursday the 25th of November 2021. For further information or to organise an inspection, please contact Gross Waddell ICR directly.
*Approx.
Remember to mention you found this property on CommercialReady.com.au
