353 Burwood Road, Hawthorn
Boasting a prominent position within the bustling Glenferrie Road precinct where students, shoppers and diners congregate, this busy retail shop and office provides instant security for the astute freehold investor. Offering two secure leases on the 223m2 (approx.) premises, the property returns a combined income of $75,000 + GST per annum, with revised increases and additional lease options.
A bustling Indian café has operated in the retail space for years, enjoying substantial dining space, two storage rooms, a kitchen and a bathroom. Upstairs, this newly formed office space adds additional income to the premises, providing autonomous entry to a vast office area with bathrooms. A right-of-way provides access to abundant on-site parking shared between the businesses.
Retail shop –
• $53,000 + GST income
• 4% fixed annual increases
• Lease expires October 2023
• 1x 5-year lease renewal option available
• $22,000 + GST income
• Lease expires June 2020
• 2x 2-year lease renewal options available
• CPI increases upon lease renewals
Zoned as Commercial 1, this vibrant hot-spot near Glenferrie Road’s corner is a melting pot for endless eateries, daily services, entertainment, recreation and city-bound transport, surrounded by highly sought-after residential areas, providing the perfect addition to your successful investment portfolio.