Indulge Your Investment Sweet Tooth

Sale Details

Sold on 15 May 2024 for $6,200,000

Description

POINT OF INTEREST:
Nestled in a neighbourhood as vibrant as the layers of a tiramisu, this property is a true treat. 1,822sqm* of land adorned with a 1,600sqm* single-level brick warehouse, garnished with a modern fit-out catering to both production and a cafe shopfront. Welcome to the sweet spot of investments – home to Brunetti Oro, a haven for pastry lovers and savvy investors alike!

Unmissable and brilliantly connected, this property stretches 46m* along Weston Street, nestled between the bustling Lygon Street and vibrant Sydney Road. Just a pastry's throw away is Barkly Square, a lively hub boasting 45+ specialty stores, anchored by retail giants Woolworths, Coles, and Kmart. A mere 700m* stroll leads to Jewell Station, while Brunswick Road calls from less than 300m*. This prime positioning close to tourist hot-spots and world-class education beckons investors to ponder the sweet possibilities that the future holds beyond the existing lease.

Brunetti Oro's 5-year lease commenced here in August 2021, with 2 further 5-year terms lined up, returning $241,020 per annum in rental income — with fixed annual increases to sweeten the deal. This delightful Italian cafe and pastry powerhouse, established in 1956, has been dishing out treats from Flinders Lane to Bourke Street and even beyond, weaving its allure as far as Dubai, and Singapore, and of course, Brunswick. Brunetti Oro's array of Italian confections has earned accolades, including the coveted Best Italian Restaurant award from the Melbourne Food and Wine Festival.

- Leased to Brunetti Productions Pty Ltd trading as Brunetti Oro
- Current $241,020 per annum
- Tenant website: https://brunettioro.com.au/
- 5-year lease commenced August 2021
- 2 further terms of 5-years each

- 1,600sqm* building area
- 1,822sqm* land area
- 46m* street frontage
- 1.3km* to Royal Park and Melbourne Precinct
- 2.8km* to Melbourne University
- 300m* to Brunswick Road
- 700m* to Jewell Station
- 400m* to Lygon Street
- 500m* to Sydney Road
- Future development potential (STCA)

POINT OF VIEW:
Delve into this investment opportunity, where you can truly have your cake and eat it too—delight in both immediate rental returns and the promise of future growth!

*Approx.
Pricing excludes GST