A prime Springvale location on Windsor Ave this cluster of shops sees a high volume of vehicle and foot traffic daily with two shops catering for lunch and evening dinners. Overall, the current annual return of approximately $177,453.48 pa (including GST) offering the investor an opportunity to add a steady income to their portfolio. All tenants are partway through their 3-year term leases all have a remaining term of 3 years available to them. All leases contain similar terms as per nominal commercial leases with outgoings covered by the tenants and annual rent increases fixed at either 3% or 3.5%
Land size per shop varies from 100 - 142m2 with google maps showing an area of approximately 470m2 combined, to be confirmed later.
Springvale is a popular multi-cultural suburb, its CBD providing goods and services for many nationalities with the addition of annual cultural events drawing in people from other areas of Melbourne.
2A Co Nam Tra Vinh Vietnamese Restaurant
3yr from 1/3/24 – 27 plus 1 term of 3 yrs available 3.5% pa
Rent 3/26 $4628.40pcm inc GST or $ 55,536 annum
Approx Land 148m2, Building 80m2
In 2024 the following cost were payable including GST
Build Ins $3222.77 pa
Council Rates $3639.30 pa
Water $862.96 pa
2B Hair and Beauty
Rent 3/26 = $2808.7pcm 0r $33,704.40
Renewal 1/12/22 1 term of 3 yrs available 3.0% pa
Approx Land ___m2, Building 88m2
2C First Taste Restaurant
Rent 3/26 = $3873.27pcm or $46,479.24
Renewal 18/05/24 1 term of 3 yrs available 3.0% pa (18/05/2027)
Approx Land 112m2, Building __m2
2D Butcher (100% outgoings)
Rent 3/26 = $3,477.82 pcm or $46,479.27 per annum
Renewal 28/05/24 1 term of 3 yrs available 3.0% pa
Approx Land 112m2, Building __m2