GREYTHORN CENTRAL INVESTMENT
Fantastic Freehold in a tightly held shopping precinct.
Magnificent location set amongst established long-term tenancies: Dough Addict -Pizzaria, Bite Me- Grill & Burger Bar, Atlantic Seafood - Fish and Chips, Rooster & Co - Charcoal Chicken, Greekery -Souvlaki, Red Lantern Chinese Restaurant, Man Key Yum Cha - Hong Kong Yam Cha, Dunyzad Lebanese Restaurant, Jolly Miller Cafe, Cafe Romeo, etc
323 Doncaster Road Balwyn North has been established as a Milk Bar since 1960 and continues to be leased and known as the Balwyn North Milk Bar. Currently rented out for $44,100 pa plus Outgoings (Council Rates, Building Insurance, Yarra Valley Water etc.)
Commercial 1 Zoning (C1Z)
Land Size is 90m2 approx.
Building Size is 70m2 approx.
Improvements include three phase power.
Note the old covenants listed below.
1955 Covenant (A194607) restricting the use of the property as a Dairy Farm or Dairy.
1960 Covenant (A949642) restricting the use of the property as a Petrol Service Station and the sale of Petrol.
While the old covenants might not be applicable now, one thing for sure is this property remains a cash cow, providing a healthy return for any astute investor with a secure three (3) year lease and two further options of three years each. With 5% annual increases.
Register your immediate interest to secure this prime investment today.