Coburg North florist, house and apartment a heavenly package

Established florist ‘Flowers of Heaven’ has been bunched with an upstairs apartment and rear house as part of a divine arrangement.

They spread across two titles at 1093-1095 Sydney Rd, Coburg North and are all leased to separate tenants.

The entire package is up for sale for $1.3-$1.4 million.

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Fitzroys director Chris Kombi says the florist is well known in the area and leverages from the nearby Fawkner Cemetery.

Flowers of Heaven is being sold as part of a property package.

He says the properties are ideally positioned for investors seeking multiple income streams.

“If you are buying this you get the whole package,” Kombi says.

“You can separately lease the properties or occupy them when lease expires.

“It really ticks all of the boxes.”

The shop has colourful and and lively interiors.

Flowers of Heaven has a five year lease in place, while the apartment and house are leased for two years.

Kombi says the vendors are private investors looking to reposition their assets.

“There is a real mix of people looking,” Kombi says.

“First-timers are looking at the house and thinking this might be something different and commercial buyers are attracted to the versatility and future upside.

The house at the back of the shop is included.

“Although the land can be developed, it is mostly passive investors looking for a good rental return.

“It is the ideal investment opportunity.”

No. 1093 Sydney Rd last sold for $900,000 in December 2014, according to CoreLogic.

It was being rented for $165 per week from March 2017.

This article from Leader Newspapers originally appeared as “A heavenly property bouquet in the heart of Coburg North”.