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RETAIL GEM SOLD ON STRONG YIELD

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RETAIL GEM SOLD ON STRONG YIELD

Conquest Estate Agency are pleased to report the successful sale of 115 Carlisle Street, Balaclava at auction on the 30th May 2018. The property is located in one of Melbourne’s most sought after shopping strips. Ideally located right near the corner of Chapel Street, with tram access at the doorstep and within a 2 minute walk to Balaclava Station. Other key attributes of this property are:
- Two storey premises, with ground floor retail and associated offices upstairs
- Building area: 170 sqm*
- Land area: 100 sqm*
- Existing lease term is Three (3) years to 28/2/2020 with a 3 year option
- Current rental $57,192 pa* + Outgoings + GST
- Annual reviews of 4%
- One Carspace on communal land at rear
- Rear laneway access from Chapel Street
- Rear roller door access for storeroom or additional parking

The property was successfully sold on a yield of approx 4% in line with comparable sales in the strip.

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