This is a rare opportunity to purchase a multi tenanted retail/commercial complex in the heart of Clevelands thriving business centre. The property consists of a 403m2 (approx) single level building including 363m2 (approx) of NLA plus 40m2 (approx) of amenities and covered walkways. The building is erected on a 1,303m2 freehold site which has been subdivided into three Group Title Lots of which the subject occupies the front 461m2 Lot fronting Bloomfield Street.
The building is of both brick and timber construction and is divided into six (6) tenancies, five (5) of which are currently occupied. A rear driveway over common property provides site access, parking and rear loading to each tenancy.
Other Features Include:
· Communal Male & Female W/C Facilities
· Rear Covered Walkways
· Trade Waste Facilities
· Wide Frontage to busy Bloomfield Street
All tenants are currently on Monthly agreements which creates an excellent Value Add opportunity for a Purchaser to negotiate new lease/rental arrangements. Current holding income is $108,500 per annum. Potential Nett Income is $146,000 per annum.
