Entry Level Retail Investments – Choice of two

Units, 7 & 8, 28 The Avenue, Albany, Albany, North Shore City

Price On Application

Proposed Usage
Office
Floor Area
85.00 m²
Description:
Property ID
1c3bd9q



A rare opportunity to purchase one or two bite sized retail investments located in close proximity to the ever-popular Albany village. Units 7 & 8, 28 The Avenue are two of eight fully leased retail units located in this popular mixed used complex, which is also home to 21 apartments above and behind the retail precinct. Each unit will be auctioned separately giving investors of all levels an opportunity to secure either one or two neighbouring retail investments.

Unit 7 is tenanted by ‘Avenue 28’, a local fine dining restaurant with a 50 seat capacity. The unit comprises 85.3sqm of internal space and 38sqm of covered courtyard. The 3-year lease term commenced in March 2014, with the rights of renewal taking the final expiry to March 2026. Returning $36,000 net pa + GST with a Personal Guarantee in place, this bite sized offering could be a fantastic bottom draw investment.

Unit 8 is tenanted by ‘House of Hair & Beauty’, which benefits from its corner/road front positioning. The 3 year lease term commences on 1 October 2018 and with the rights of renewal the lease goes through to 2030. This investment is returning $29,000 net pa + GST and has 2 yearly market rent reviews, with the next review due in October 2019.

 

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Albany Area