LAND RICH INVESTMENT WITH ALL THE TRIMMINGS

Sale Details

Sold on 15 Mar 2024 for $920,000

Description

POINT OF INTEREST:
Commercial precincts aren’t run by their CEOs, it’s the cafés within them that fuel the productivity — and Industrie has been operating and sandwich-slinging here since 2007 and have keenly signed a fresh lease agreement with $48,300.64 + GST hitting your pockets annually, on a 3+3+3-year term with 3.5% annual increases.

The land comes in at a generous 818 sqm*, but the modern building is fully tiled and open plan, with floor-to-ceiling windows for natural light and a concreted courtyard dining area. The commercial kitchen has all the amenities you’d expect with a service area including a glass cabinet, complete perimeter fencing and security gates, and 12 on-site car spaces for customers who aren’t on foot.

Situated between Dorset and Canterbury Roads, you’re also on the corner of your block where neighbours like Denso Automotive Systems Australia, Sugar Australia and De Bortoli Wines need their caffeine fix. Outside of the obvious neighbourhood investment, there’s the postcode one too — where the Eastlink is only 6.4 km* away, Croydon railway station is 3.6 km*, and Canterbury Gardens (including the Woolworths) is only a kilometre from the site.

- Leased to Alavad Pty Ltd trading as Industrie Café
- Rental $48,300.64 per annum + GST and outgoings
- Renewed 3+3+3 year lease from 31st December 2023
- 3.5% fixed annual increases + market review at options
- Long term established Café since 2007
- 142 sqm* total building area
- 818 sqm* total land area
- 12 allocated car parks on site
- 900 m* to Dorset Road
- 2.4 km* to Canterbury Road

POINT OF VIEW:
Good investors get an industrial asset within a prominent estate, but astute investors get the hospitality asset that the precinct relies on. This tenanted corner will barely hit the display cabinet before being snapped up.


*Approx.
Pricing excludes GST