Thriving local restaurant plus first floor residence – 338 High Street, Northcote
Northcote’s High Street has long been famous for its exciting mix of speciality retailers and eateries. GrayJohnson is pleased to bring to auction this outstanding retail property in the heart of this bustling precinct.
The two-storey building is home to a successful and well-reviewed Vietnamese restaurant with a full commercial kitchen and dining area on the ground floor. Included on the existing lease is a first-floor, three-bedroom residence with a separate entrance from the rear. The property includes a large garage opening from the rear right-of-way, a separate store room and a large rear courtyard area. With a 5-year lease term expiring in April 2028 and a further 5-year option, this represents an excellent opportunity for the investor to acquire a property with a bright future in a sought-after retail precinct.
Key features:
• Land area 319 sqm*
• Total building area 215 sqm*
• Ground floor with full commercial kitchen and dining area
• Occupied 3-bedroom residence on first floor
• Rear access via roller shutter door from right-of-way
• 5-year lease plus further 5-year term
• Returning $64,435 pa + GST & outgoings
*approx.
The property’s position on High Street offers easy and convenient access, whether travelling by car or public transport. Just 7km from the Melbourne CBD, the area’s inner-north location and well-connected transport network make it an ideal destination for locals and visitors alike. The 86 Route Tram runs past the door with the nearest stop just 100m away. The Northcote Train Station, on the Mernda line, is a short seven-minute walk away.
For more details contact Rory White 0439 655 504.
