This extraordinary investment opportunity offers a rare chance to secure a purpose-built, double-story building in the heart of the vibrant Echuca Port Precinct. Featuring two exceptional tenants, and one amazing home. This property is a golden opportunity for discerning investors seeking both quality and character in a prime location.
The secure investment promises immediate returns with two established, successful tenants in place. Situated on a busy thoroughfare with strong foot traffic in Echuca's vibrant Town Center, the property ensures high visibility and attracts both locals and tourists, enhancing its appeal. Long-term leases with reliable tenants provide a proven income stream, offering steady and reliable returns.
The well-maintained property requires minimal upkeep, making it an ideal hassle-free investment. With Echuca's thriving economy, the property also offers excellent capital appreciation prospects.
The first tenant is a well-established licensed eatery that not only serves the finest cuisine but also features an upstairs function room, ideal for events and gatherings.
Currently on a three-year lease until February 2027 and a further 3 year option available, this secure tenancy is returning $85,000 plus GST per annum plus outgoings with annual CPI increases applicable.
The second tenant is an award-winning distillery, renowned for producing premium spirits that attract both locals and tourists alike and are distributed Australia wide.
Currently on a three-year lease until February 2027 and a further 3 year option available, this wonderful tenancy is returning $70,000 plus GST per annum plus outgoings with annual increases scheduled via a fixed 2 % increase on years 2,3,5 & 6 and CPI increase on year 4.
Together, these tenants occupy a generous 608.6 m2 of commercial space, ensuring a steady income stream totaling $155,000 per annum, enhancing the property's investment appeal.
In addition to the commercial spaces, there is a potential holiday rental return of $70,000 to $80,000 per annum (price quoted by Echuca Holiday Homes) for the owner-occupied residential apartment on level 2 which could see the possibility of a total annual income for this building at $225,000 plus PA.
Currently, the architecturally designed residential apartment is owner occupied and is over two floors. The ground floor houses a double garage, providing secure parking. Upstairs, the spacious three-bedroom apartment is a masterpiece of modern design and functionality. The large open-plan living area is perfect for both relaxation and entertainment, featuring a kitchen with high-end porcelain surfaces, ample bench space, and top-quality appliances, including a dual oven and induction cooktop.
The lounge room is a cozy retreat with a gas log fire, complemented by reverse cycle ducted heating and cooling throughout that ensures comfort all year. At the heart of the home is a stunning tiled alfresco area with an automatic roof, offering a perfect space for outdoor dining and entertaining. The master bedroom is a luxurious haven with an ensuite bathroom and a spacious walk-in robe.
The additional two bedrooms are well-appointed with built-in robes and offer access to a balcony that provides picturesque views of the Campaspe River.
The property is finished to the highest standards, featuring a private yard, a convenient two-person lift, ample storage solutions, and beautiful Tasmanian Oak floors that add warmth and elegance to the interiors.
This exceptional property not only promises a lucrative investment but also offers a lifestyle of unparalleled luxury and convenience. It is ideal for passive investors seeking stable income and a hassle-free investment property, investors looking to expand their portfolio and incorporate the residence into a holiday home or permanent home in the heart of Echuca.
Don't miss this unique opportunity to own a piece of Echuca's prime real estate.
Please submit your expressions of interest by close of business on Wednesday, July 17, 2024
Please note: In order to obtain a copy of the contract of sale and/or a copy of the Information Memorandum, you will be required to complete a confidentiality agreement.