Outstanding Morwell Investment
A prime location on the Eastern side of Morwell this group of shops cater to the needs of residents near and far. The 1463m2 lot comprises of four shops, the largest being IGA Morwell Liquor store complemented by a Pizza Shop and a Fish & Chips behind IGA at 5 Opal Place, with the remaining shop currently vacant.
Two of the Opal Place shops are 70m2 in size, the third approximately 109m2, all with customer parking out front. The building, within a Mixed Business Zone, is positioned within a vibrant residential community who regularly visit these shops for "take away" food, drinks, snacks, BBQ products and household goods as they are within walking distance for many residents.
The current long term tenants hold leases with additional terms remaining, yielding a total rental return of approximately $156,346 per annum including GST, with the 3 tenants paying out goings of approximately $29,032 this purchase would be a great addition to anyone's portfolio.
Morwell, lies at the heart of the vast Latrobe Valley brown coal area which is dotted with open cut mines and power stations. It is approximately 2hrs from Melbourne CBD by car or train with V-line providing multiple return trips daily at 1-hour intervals. Although the primary appeal of the area is to explore the coal history on an excellent "Power Drive Route" there are a number of annual festivals and events in the area that attract tourists and locals.
https://www.tripadvisor.com.au/Attractions-g261661-Activities-Morwell_Gippsland_Victoria.html
Features:
Mixed business zone
Major tenant, IGA Morwell +Liquor
Includes two popular take away shops.
Customer parking provided.
Land size: 1463m2.
Building size: 700m2. Approx.
Approx Gross I/C $180,000 pa
Morwell, a large city in the Latrobe Valley approx. 2-hours from Melbourne CBD
Disclaimer
While all due care has been taken to provide accurate measures and figures, neither Century21 Theresa Huynh or the vendor represent or warrant the accuracy of any of the information provided. Subject to any statutory limitations on its ability to do so, the vendor disclaims all liability under any cause of action, including negligence, for any loss arising from reliance on the above information.