Brand new retail investment with cafe tenant
1/2181, East Coast Road, Silverdale, Rodney
- Proposed Usage
- Floor Area
- 165.00 m²
- Auction Date
- 11:00 - Apr 10, 2019
- Property ID
Vantage Point is a mixed use five stage development by Urban Village Property and consists of a combination of trade sales units and commercial units. Exceptional architectural design is a stand out feature of this development. The trade sales units comprise of retail showroom, warehouse and office space. Clever design provides owners and tenants with multi-use options. On site landscaping and attractive amenity areas provide enjoyment for occupants and visitors.
Consisting of approximately 120 sqm retail and 45 sqm cover patio, the property is strategically situated at the entrance of Vantage Point, enjoying great exposure to the main road. It is leased to Ground Control Cafe with a five years term, returning $55,000p.a. + GST and outgoings. A security bond is in place in addition to a personal guarantee. Neighbouring tenants include The Tool Shed, Mike Greer Homes, Coast Pet Care, Coastscapes Landscaping, Dae Han TaeKwonDo. Opposite to the property is a 26Ha (approximately) residential development currently undergoing ground work and is expected to produce over 700 sections.
Rarely do hospitality/cafe investments of this nature come to the market as they are generally considered the most sought after, marque units within this style of development, providing long term value beyond the physical land and buildings given the potential value in the business. Investors will take confidence in the modest rental rates currently contracted relative to comparable investments in nearby Albany. Providing an initial sustainable rental for the new tenant the future owner will benefit from longer term rental growth and ultimately return on investment.