property photo

7 Yarra Street, South Yarra

Quality South Yarra Investment with 8.5% Net Return!!

Area : 279 m2 approx
Sale: Sold

 

Property Details

  • Asking Price: $595,000
  • Area: 279 m2 plus 2 secure car spaces
  • Established tenant with an excellent track record and branding
  • Solid long term lease in place (5+5+5+5+5)
  • Fixed annual increases + Huge depreciation benefits
  • Market review at option that cannot decrease the rental
  • Located in a brand new state-of-the-art mixed use development in the heart of South Yarra.

Punt Hill Apartments are a well-established brand in luxury self-contained apartment accommodation, operating 12 facilities across Melbourne and one in Sydney. Their newest flagship location is South Yarra Grand, at 7 Yarra Street, South Yarra. The property has eclectic and stylish decor, an open fireplace in the foyer, and offers studio, one and two bedroom serviced apartments with private balconies, high speed internet access and LCD TVs with Foxtel. Hotel facilities include gym, spa, on-site undercover car parking, conference facilities and 24-hour reception.

Being offered for sale is a very attractive investment that is securely leased to the operators of Punt Hill (Cararn Pty Ltd) on a long term basis. The property comprises the ground floor receptionist’s office, conference centre, gym & spa area plus 2 secure car parks. The available space totals 279 m2 approx and has the added advantage of being brand new, which means excellent depreciation allowances and minimal maintenance costs. The tenant pays the majority of outgoings (excludes Council & Water Rates – $2,000 pa) which will supply the new landlord an outstanding net rental of $50,500 pa (8.5% return).

The property is situated on the eastern side of Yarra Street, between Toorak Road and Alexandra Parade, South Yarra.

The hotel is in the heart of South Yarra, surrounded by trendy boutiques, cafes, restaurants & bars on Chapel Street and Toorak Road, as well as being just a ten minute tram or train ride from Melbourne’s city centre. It sits high above a revitalised new precinct adjoining South Yarra train station, overlooking the city of Melbourne, Port Phillip Bay and the Dandenong Ranges.

For further information, please contact:
Ben Evans 0403 427 678
bevans@grayjohnson.co.au

Interactive Location Map

Use of the slider on the left of the map to zoom in and out ... click on "hybrid" to view an aerial photograph of the area with major streets overlaid on the map.