148-150 Yarra Street, WARRANDYTE VIC 3113 SOLD
- Income: $84,000 pa + GST
- New 5-year lease + options
- Longstanding Not For Profit tenant
Description
Gorman Commercial is pleased to offer 148-150 Yarra Street, Warrandyte for private sale.
Leased to popular Warrandyte Eatery "Now and Not Yet", the building is strategically located in the prime commercial part of Warrandyte, between the popular Grand Hotel and the Warrandyte Bakery. Set amongst other quality eateries and retailers, this outstanding freehold building offers income, location and future development upside (STCA).
Key property features:
* Income: $84,000 pa + GST + outgoings
* New 5-year lease from Feb' 2025 to longstanding & popular tenant "Now and Not Yet"
* The sitting tenant, Now and Not Yet is a registered charity and social enterprise not-for-profit community cafe.
Further details can be found on their website - https://www.nowandnotyet.com.au/about
* Two (2) further terms of five (5) years
* Strong 4% annual rental increases
* Combined building area: 282 sqm approx. comprising well-presented cafe of 222 sqm approx. and additional rear cottage of 60 sqm approx.
* Land area: 473 sqm providing future development potential
* Prominent 8.6m frontage to Yarra Street
* Zoning: Commercial 1