BUSY SHOPPING STRIP INVESTMENT
Retail/hospitality premises with new lease in place
GrayJohnson is excited to announce the sale of 51 Bonwick Street, Fawkner. The property was sold at Auction with fierce competition from 5 bidders. A local buyer secured the property for $890,000 (4.4% yield).
The Bonwick Street precinct is a popular neighbourhood shopping strip with recently refurbished streetscapes. It is home to a cosmopolitan range of eateries as well as an IGA supermarket, chemist, newsagency and other local retailers. This property enjoys excellent main road exposure with a central position in the shopping strip. There is a second access via a laneway at the rear.
The opportunity:
• New 3-year lease commencing 1 May 2023
• Landholding of 193sqm approx.
• Building area 205sqm approx.
• Returning $40,000 pa net plus GST
• Main road plus laneway access
The location:
• Popular shopping strip location
• 700m from Gowrie railway station
• Easy access to Western Ring Road and motorway network
• 12km approx. north of the Melbourne CBD
• Commercial 1 zone
For more details contact Rory White 0439 655 504 or Anthony Boldrini 0468 519 472.
