A Brilliant Office / Retail Investment In South Yarra's Heart at Circa 5.5% Return!

Sale Details

Sold on 28 May 2018 for $550,000

Description

A fantastic opportunity to purchase a premium ground floor office / retail investment property in the heart of South Yarra's bustling Toorak Road retail precinct that is currently leased to The Miravor Property Group who designs, builds and develops small-to-medium-sized residential and commercial projects. For further information please go to: www.miravor.com.au

The property features;
- Ground floor tenancy consisting of 55m2*
- 1 allocated car space
- Customer parking along Yarra Street
- Air-conditioning and heating
- South Yarra train station at the end of the street
- Part of the South Yarra Toorak Road retail precinct

Lease Summary;
- Tenant: Miravor Pty Ltd
- Lease Term: Three (3) year lease + Three (3) year option
- Commenced: 12th September 2017 (2 years & 5 months remaining approx.)
- Rental Return: $32,000 per annum + outgoings and GST
- 4% annual increases (Rent to increase to $33,280 p.a net in September)
- Security Bond: 3 months + GST

10 Yarra Street is an architecturally built seven level office building offering small to medium sized businesses an aesthetically pleasing working environment through its clever and novel design of light filled office spaces, private balconies, basement parking, staff amenities and strategic positioning next to South Yarra Train Station and Toorak Road's retail precinct. The building has attracted many professional tenants including Australian Dental Association, Intercorp, ALH Group and GMP Financial.

*approx.