Multi Tenanted Investment

641 Plenty Road
Preston

****Sold****

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 $82,000* 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 $82,000* p.a. Net +GST
• 641 Plenty Rd & 235A Tyler St: Nord Bar: $50,000* 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.

 For further information, or an inspection of the premises, please contact an agent.

Julian Materia

Senior Sales Executive - Partner

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Raff De Luise

Director - Sales - Partner

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Price

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