Online Auction | Retail Investment Leased to Established Tenant Since 2012

ONLINE AUCTION (IF NOT SOLD PRIOR)

525 North Road

Ormond VIC 3204

Retail

FOR SALE

248m2

Ray White Commercial Victoria is excited to present for sale via Online Auction on Friday 30th October 2020 at 1pm, an exceptional freestanding retail investment located at 525 North Road, Ormond.

The property is perfectly positioned close to everything that one would expect in an investment property and is located amongst an array of supporting and service type businesses such as food outlets, IGA supermarket, hair salons and more. The property is also situated within metres from Ormond Train Station, ticking all the boxes that one would look for in an investment.

Currently leased since 2012 to "Melbourne Music Centre" which was founded in 1991, this property provides investors with great comfort knowing that there is a reliable tenant occupying the premises.

Whatever it may be that you are looking for in your next commercial property purchase; this is certainly one that you can't ignore!

The Property:
• Total building area | 248m2*
• Total land area | 222m2*
• Two level commercial building
• Comprising ground floor retail premises of 175m2* & first floor of 73m2*
• Front and rear access
• On-site parking at rear via R.O.W.
• No Owners Corporation Fees
• Commercial One Zoning (C1Z)
• Roof replaced in 2017

The Tenancy:

• Leased since 2012
• Current lease until January 2021 with a further option of 6 months (exercised)
• Current income $39,000 Per Annum plus GST plus Outgoings
• 3% annual increases and Market Review at option
• Two months security bond

ONLINE AUCTION FRIDAY 30TH OCTOBER 2020 AT 1PM

Ryan Amler | 0401 971 622
George Kelepouris | 0425 798 677

*All areas and figures approx only. All boundaries are indicative only. All precaution has been taken to establish the accuracy of all information but does not constitute any representation by the Vendor or Agents.