Prime Hospitality Property with Long Term Lease

GrayJohnson is pleased to bring to auction an outstanding property in the heart of Cheltenham’s busy Charman Street retail precinct. The “Saltimbocca” Italian restaurant has been a favourite with locals for more than ten years and has attracted excellent reviews and several awards. This represents an excellent opportunity for the investor to acquire a property with a bright future in a burgeoning southern suburb.

• Land area 201sqm*
• Building area 180sqm*
• 5.5m* frontage to Charman Street
• Front and rear dining areas plus commercial kitchen
• Rear access with space for car parking
• 5-year lease plus two further 5-year terms
• Returning $51,917 pa net + GST & Outgoings
• 3-minute walk to Cheltenham Station
• Close to Nepean Highway and Centre Dandenong Road

Charman Street is the main street of Cheltenham and is located in a government proclaimed Activity Centre. The area is undergoing gentrification with the prospect of significant residential development in association with the proposed suburban rail loop. With Cheltenham station just three minutes’ walk from the subject property there is a strong future upside to this investment with council likely to welcome further development.

For more details contact Rory White 0439 655 504.

*Approx.  

Leave a Reply

Your email address will not be published.