Trophy Mentone Village Freehold With 15 - Year Lease

Sale Details

Sold on 18 Nov 2022 for $973,000

Description

Sale by Public Auction - Friday 18th of November 2022 at 2.30pm.

POINT OF INTEREST:

CVA and Stonebridge have the exclusive privilege of offering for sale this high-profile freehold investment opportunity, located at 5 Como Parade West, Mentone.

5 Como Parade West has recently undergone refurbishment and now boasts a modern barber shop layout. The space has been strategically configured and comprises a prime open plan area fronting Como Parade West and amenity to the rear. Floor to ceiling windows and 5 m* of street frontage provide the tenant and any future tenants with prime frontage to the core of Mentone’s retail village. The property comprises 91 sqm* of Activity Centre Zoned land, with a portion of undeveloped yard space to the rear.

Located in the City of Kingston, in the affluent beachside suburb of Mentone 22 km* from the Melbourne CBD. Como Parade West is the retail backbone of Mentone, bookended between major train station, Woolworths, Coles & multiple schools. The strategic location of the property benefits from major supermarkets and national retailers (Chemist Warehouse, ANZ, Bakers Delight, Australia Post) provides the precinct with a high level of foot traffic and demonstrates the quality of the area as a retail village.

- 91m2* total land area.
- 68m2* total building area
- Activity Centre Zoning.
- Freehold title
- Long-term rental income of $47,500 p.a. excl GST
- 15-year lease + 3.5% increases
- 40m From Mentone Bus Terminal
- 50m from Mentone Train Station

POINT OF VIEW:

A rare opportunity in the heart of Mentone’s retail precinct, adjoining Mentone Train Station. The investment is bolstered by a vendor favoured 15-year lease.

*Approx.
Pricing excludes GST