Gross Waddell ICR have great pleasure in presenting 39 & 39a Fallon Street, Brunswick for sale.
39 and 39a Fallon Street, Brunswick is an exceptional investment opportunity that boasts a well-presented single-level retail shop and a spacious three-bedroom residence, all bundled together on a single title. With a total building area of 224 sqm*, comprising a 116sqm* cafe and a 108 sqm* residence, this property offers versatility of occupying the residence in the future whilst having addition rental income from the cafe. The residence features three bedrooms, a separate bathroom and laundry, a tidy kitchen, a meals area, and the added convenience of air conditioning and heating throughout. Situated on a generous land area of 398 sqm*, this property is currently leased to two separate tenants, a bustling cafe and the residence. The total rental income of $78,882.56* per annum, the cafe contributing $44,994.56* and the residence adding $33,888* per year, makes this investment attractive to any property portfolio. The cafe leaseconsist of a five (5) year term, further options until 2036, and fixed 4% annual increase. The property has a prominent cornered location at the intersection of Fallon Street and Dawson Street ensures visibility and foot traffic, a winning combination for any savvy investor.
Located a short walk between Jewell & Brunswick Train Station and just up from the busy and popular Sydney Road retail strip sits 39 & 39a Fallon Street, nestled in amongst the highly sought after single fronted terrace houses. The location provides excellent access to Melbourne’s best universities, Melbourne CBD, popular bars, eateries, restaurants, and boutique retailers.
• A well-presented single level retail shop and 3-bedroom residence both of which are on one title, the property also includes the following features:
• Total Building Area: 224 m2 approx ( 116 m2 cafe & 108 m2 3 bed residence)
• Residence comprises of three bedroom , separate bathroom and laundry, tidy kitchen and meals area, car space on title, air conditioning and heating throughout.
• Land area: 398m2 approx
• Two Separate tenants – Cafe and Residence
• Residential Lease: (12 months) commenced Jan 2023
• Total rent: $78,882.56* p.a. (Café $44,994.56* p.a.) (Residence $33,888* p.a.)
• Café: Term five (5) years – commenced 15 Aug 2021
• Options: Five (5) years + Five (5) years
• Fixed 4% annual increase
• Off street parking
• Prominently corner located (Fallon Street & Dawson Street)
• Close to popular cafés, bars, restaurants, and boutique retailers.
• Between two train stations, Jewell Station & Brunswick Station
• Neighbourhood Residential Zone – schedule 1
Inspection by appointment only.
For further details or to organise an inspection, please contact Gross Waddell ICR's sales representitives directly.