Prime retail property with new 5-year lease.
Melbourne’s Chapel Street has long been famous for its many eateries, with the Windsor end of the popular strip coming into its own in recent years.
GrayJohnson is pleased to bring to auction an outstanding retail property in the heart of this busy precinct.
The two-storey building has been a restaurant for more than 20 years and includes a full commercial kitchen and dining area on the ground floor. Upstairs is a residential/office area. With a 5-year lease commencing in October 2022 and two further 5-year options, this represents an excellent opportunity for the investor to acquire a property with a bright future in a sought-after retail hub.
Located some 5km* from the Melbourne CBD, the property is well served by public transport with a tram at the door and the Windsor Railway Station a short walk away. It is surrounded by a diverse range of hospitality and retail businesses, attracting both visitors and residents from the affluent south-eastern suburbs.
Opportunities in this sought-after precinct, especially with favourable lease arrangements in place, don’t come along every day and we expect considerable interest from investors seeking ongoing returns.
• Two-storey solid brick building
• Land area 195 sqm*
• Building area 115 sqm*
• 5.2m* frontage to Chapel Street
• Rear access via roller shutter door from public carpark
• 5-year lease plus two further 5-year terms
• Returning $60,263 pa as at Oct 2023
• Popular retail, arts and dining precinct
• 5km* from Melbourne CBD
• 3-minute walk* to Windsor Station
• Tram stop at the door