Gross Waddell ICR is pleased to present 641 Plenty Road, Preston for sale.
At the peak of Metropolitan Melbourne sits a property ripe with promise in the bustling hospitality scene. This is a unique opportunity to secure a multi tenanted investment in a prime Preston location.
This property consists of 4 shops on one title, 641 Plenty Road & 235a, 235b, 235c Tyler Street, Preston with a current rental income of $108,000* p.a. Net plus GST.
This double-storey corner property sees substantial daily traffic, benefiting from high exposure. Surrounded by neighbourhood favourites like Ragtime Tavern, This Borderland, Tavolata, & Hardout, this area buzzes with opportunity & community spirit.
• Rental income of $108,000* p.a. Net +GST
• 641 Plenty Rd & 235A Tyler St: Nord Bar: $76,000* p.a. Net +GST with 4% annual increases – 3 + 3 + 3 year lease
• 235B Tyler St: Video Days: $18,000* p.a. Gross +GST with 4% annual increases – 2 + 2 + 2 year lease
• 235C Tyler St: Think Good Psychology: $18,000* p.a. Gross +GST with 4% annual increases – 2 + 2 + 2 year lease
• Large double storey corner property consists of the established restaurant bar known as ‘Nord Bar’, with a solid clientele base and late-night liquor license.
• High exposure corner with a huge amount of passing traffic daily.
• 40 m* Street frontage to Plenty Rd and Tyler St
• The commercial 1 zoning (C1Z) provides the ultimate future development flexibility (STCA)
(stca) = subject to council approval
*approx.
Inspections are by appointment only, kindly contact one of the exclusive selling agents from Gross Waddell ICR.
