****** SOLD ******
Gross Waddell ICR is pleased to be offering 111-113 Upper Heidelberg Road to the market for sale. Offered for the first time in over 20 years, this premium investment is securely leased to a highly rated Mediterranean restaurant. Favourably zoned Commercial 1 (C1Z), the property is situated within the heart of a tightly held bustling retail precinct and offers underlying land value, lending itself to a variety of future development outcomes in the medium to long term (STCA).
• Securely leased to multi-award winning operator restaurant,which has been operating for more than 16 years
• Significant income profile with a net income of $103,000* p.a. as of 1 Dec 2023
• Renewed 5-year term with 3 further terms of 5 years
• Strong annual rental increases (6.79%* in Dec 2024; 5.45%* in Dec 2025)
• High underlying land value with an expansive landholding of 419 sqm* and benefiting from rear access
• Situated in the heart of a bustling retail precinct and alongside national retailers including Chemist Warehouse, Subway, Commonwealth Bank, Woolworths and Ivanhoe Plaza
• Metres to Ivanhoe train station and surrounded by a plethora of public car parking spaces
• Ivanhoe is a high demand suburb and boasts a soaring median house price of $1,750,000 (source REIV)
For sale via Public on-site Auction on Wednesday 23rd August at 2pm.
For further details or to arrange an inspection, please contact the exclusive marketing agents at Gross Waddell ICR.
*approx.
