118-124 Raymond Street,
Sale, VIC 3850
Other
Price information
Sold
$800,000
Key property information
Land area
Floor area
Zoning
Sold on
Map of 118-124 Raymond Street
A1 COMMERCIAL INVESTMENT
This landmark building nestled in the heart of the CBD represents a terrific opportunity for the astute investor.
The ground floor has a lease in place to the Kazbah Lounge until the 2/3/2019 with the current rental of $70,890 PA plus GST & OG with annual CPI increases and 3 further options of 5 years. The real jewel in the crown is the value add on of the first floor office accommodation which is currently vacant and up for lease at $15,000 Plus GST & OG, giving you plenty of scope to increase the overall yield of the property. Based on the ground floor rent, the current return is an impressive 8.46% and if a tenant can be secured for upstairs at the asking rent then the building would show a return of 10.25%. Therefore making it a very attractive option for your portfolio.
This amazing building was constructed for AMP around 1930 and still retains all the charm and character of that era. While the ground floor has been transformed into a vibrant bar and lounge area with 360sqm of floor space, plus expansive beer garden. The first floor has a separate entrance from Bond St and leads up to the 250sqm (approx.) of office accommodation with 7 individual offices, kitchenette, bathroom facilities and some additional storage rooms.
This impressive building sits on a large Commercial 1 corner site of 648sqm which allows room for some off road parking and potential to potentially extend in the future.
For a Due Diligence Checklist go to:
consumer.vic.gov.au/duediligencechecklist
Or call us on (03) 5144 4333
The ground floor has a lease in place to the Kazbah Lounge until the 2/3/2019 with the current rental of $70,890 PA plus GST & OG with annual CPI increases and 3 further options of 5 years. The real jewel in the crown is the value add on of the first floor office accommodation which is currently vacant and up for lease at $15,000 Plus GST & OG, giving you plenty of scope to increase the overall yield of the property. Based on the ground floor rent, the current return is an impressive 8.46% and if a tenant can be secured for upstairs at the asking rent then the building would show a return of 10.25%. Therefore making it a very attractive option for your portfolio.
This amazing building was constructed for AMP around 1930 and still retains all the charm and character of that era. While the ground floor has been transformed into a vibrant bar and lounge area with 360sqm of floor space, plus expansive beer garden. The first floor has a separate entrance from Bond St and leads up to the 250sqm (approx.) of office accommodation with 7 individual offices, kitchenette, bathroom facilities and some additional storage rooms.
This impressive building sits on a large Commercial 1 corner site of 648sqm which allows room for some off road parking and potential to potentially extend in the future.
For a Due Diligence Checklist go to:
consumer.vic.gov.au/duediligencechecklist
Or call us on (03) 5144 4333
Property ID: 501690653Last Updated: 14 Jan 2016
04193818...
118-124 Raymond Street
Sale, VIC 3850
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