** SOLD **
Gross Waddell ICR is pleased to offer this ideal retail investment occupied by an experienced fashion boutique as part of the ‘Signature Auction Portfolio’.
• Idyllic retail freehold investment and leased to a long standing tenant, Mojo on Main, on a new 3 year lease with a further 4 year option
• Net income of $34,846* per annum with fixed 4% annual increases
• Existing tenant operates from multiple locations with a long history within the fashion industry
• Occupying a key position within the lively Montmorency Village (Monty Village) and resides on 88 sqm* of Commercial 1 Zone (C1Z) land
• Rear lane access with an abundance of parking out the front and neighbouring council car parks
• Merely 120 m* from Montmorency train station and is surrounded by plethora or retail amenity including bottle shops, pharmacies and supermarkets
• Monty Village is a charming village like atmosphere which caters a burgeoning catchment and is surrounded by rapidly expanding suburbs including Eltham and Greensborough
• Montmorency is highly regarded as local gem and boasts a median house price of $1,130,000 and a 21.5% quarterly price growth (source REIV)
The property is to be sold via Public Auction as part of the ‘Signature Auction Portfolio’ and held at Leonda by the Yarra from 11 am on Thursday the 25th of November 2021. For further information or to organise an inspection, please contact Gross Waddell ICR directly.