RETAIL INVESTMENT WITH NEW 5 X 5 LEASE TO ESTABLISHED OPERATOR
CBRE exclusively offer Shop 4 of 1 Magdalene Terrace, Wolli Creek by way of Public Auction at 10:30am on Tuesday 10 December 2019 (AuctionWorks, 50 Margaret Street Sydney).
Conveniently situated in the heart of Discovery Point, a piazza style retail precinct surrounded by high-density residential just moments from Wolli Creek Train Station, occupied by many major retailers, cafes and restaurants.
This highly exposed ground floor retail shop is currently leased to Hong Kong Kitchen, an established operator on a new five-year lease with excellent rental return.
<b>Features of the Asset:</b>
• Five-year lease to established operator Hong Kong Kitchen, recently commenced on August 12, 2019.
• Five-year option to renew with a market rent review
• Shop area of 179sqm*
• Wide frontage with bi-folds opening into exclusive outdoor alfresco of 52sqm
• Estimated Net Income of $163,382.53 per annum
• Long term lease in place with an allocated GROSS rent review of 3% each year in August (first review August 2020)
• High quality fit out and equipment owned by Landlord (yet to be utilised depreciation benefits)
• 200 metres from Wolli Creek Train Station
• Rare opportunity to acquire a low maintenance, passive investment located in one of Australia’s fastest growing and populated suburbs.
Please contact the exclusive listed agents for further information.