305 Coventry Street, South Melbourne VIC

For Sale

Retail

AUCTION

60m2

Ray White Commercial Victoria is delighted to offer for sale by way of public auction on Thursday 2nd August 2018 at 12:00pm, this outstanding retail investment located in one of Melbourne's most highly sought after and tightly held fringe CBD locations.

Located directly opposite the iconic South Melbourne Market and with an abundance of passing traffic, this securely leased investment property has outstanding development potential (STCA) and is leased to Market Lane Coffee, who operate in seven other locations throughout the Melbourne CBD and fringe CBD.

With a ten (10) year lease in place, commenced in July 2017, this is certainly a property you want to add to your investment portfolio which will provide excellent capital growth for years to come.

From its location to its colour, this property is ‘Blue Chip' in every sense of the word.

Inspection will impress!

Property Features Include:

- Total Building Area | 60m2 (approx)
- Plus further 10m2 (approx) of rear courtyard
- Current Rental | $45,000 per annum + GST
- Rent to be increased on 28th July 2018 to $46,800 per annum + GST
- Tenant | Market Lane Coffee - Reputable tenant operating in 7 other locations around Melbourne CBD
- Ten (10) year lease commenced 28th July 2017
- One (1) further term of five (5) years
- Fixed 4% annual increases with market review at option
- Stand-Alone Retail Property with Outstanding Development Potential (STCA)
- Fringe CBD location - directly opposite the iconic South Melbourne Market
- Commercial 1 Zoning (C1Z)

The property will be open for inspection on the following dates and times:

Wednesday 4th July | 3:00 - 3:30pm
Wednesday 11th July | 3:00 - 3:30pm
Wednesday 18th July | 3:00 - 3:30pm
Wednesday 25th July | 3:00 - 3:30pm

For further information or to obtain the vendor statement, please contact one of the exclusive marketing agents:

Joshua Colosimo - 0413 790 309
Zomart He - 0433 081 721