North Adelaide, 129 Melbourne Street, North Adelaide
An opportunity doesn’t knock, it only...
A fantastic mixed-use investment opportunity in one of Adelaide’s most sought-after locations being. 129 Melbourne Street, North Adelaide. A precinct known for its diversity in commercial land use including retail shops, pubs, cafés, offices and medical practices, it also boasts a surrounding medium-high density residential community. A Torrens- titled allotment with a total building area of 280sqm* distributed over 2 levels and a combined passing rental income of $104,000 p.a. + GST (Gross Lease) Ground Floor - Spot & Co Whiskey Cocktail Lounge - Freshly renovated cocktail lounge/ bar with fantastic us of exposed brick & polished concrete flooring - Two freshly renovated bathrooms, a unisex bathroom with floor-to-ceiling marble-look tiles and marble vanity plus a Disabled bathroom located adjacent - Kitchen area plus rear storage/ garage area First Floor: Residential - 3 generous-sized bedrooms, master with walk-in-robe and ensuite consisting of a large spa bath & shower - Bedroom 2 and 3 with Built-in-robes - Light-filled Kitchen with white timber cupboards and granite bench tops overlooking the living area - Main bathroom with bath and shower, separate w/c and laundry area - Two double doors leading out to the balcony overlooking Melbourne Street - Ducted reverse cycle A/C throughout Features to mention include: - One lease with tenancy occupying the whole building - Lease Term 1/09/2015 – 31/08/2020 (plus 5 year option) - Passing rental of $104,000 p.a. + GST (Gross Lease) - 4 % fixed annual increases ($108,160 as @ 1/09/17) and market review @renewal - Depreciation Benefits (New fit-out) - Zoned: Main Street (Melbourne East, MS2). - Rear Lane Access via Bower St - Torrens Titled 167sqm allotment
