Shop 37/8-34 Gladstone Park Drive,
Gladstone Park, VIC 3043

Shops & Retail

Price information

Sold

$550,000

Key property information

Floor area

Property extent

Tenure type

Sold on

Map of Shop 37/8-34 Gladstone Park Drive

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Dual-income security within the bustling Gladstone Shopping Centre

Provides two secure incomes
Shopping centre is the community hub
Two stores totaling 134m2 (approx.)

Boasting a prominent position within the bustling Gladstone Shopping Centre, this astute freehold venture provides two secure incomes for the shrewd investor. The community hub of the area, the shopping centre offers over 100 retailers and professional services, including Woolworths, BWS, Aldi, Australia Post, and Bigfields Fresh Market.

Occupying a total of 134m2 (approx.), the freehold consists of two retailers including a clothing store and a phone repair and accessories shop. Each tenant is in the first year of a three-year lease with a second three-year option available, delivering a total income of $36,800 per annum including GST with yearly fixed increases. All maintenance is payable by the tenants.

Shop One – Envy Girls (clothing shop)
• $17,600 per annum (including GST) until 15th March 2023
• 2% increases per annum until 15th March 2025
• Renewal option available for a further 3 years until March 2028, with market review of rental

Shop Two – Winsome Mobiles
• $19,200 per annum (including GST) until 3rd August 2022
• $19,776 per annum (including GST) from 3rd August 2022 to 3rd August 2023
• 3% increases per annum until 3rd August 2025
• Renewal option available for a further 3 years until August 2028