$472,000

Rare Offering - Commercial & Residential Investment, all rolled into one!

LEASE PARTICULARS:

Commercial tenancy:
• Term - 5 + 5 years with 3.5% annual increase and rent review at option period.
• Amount - $1,550.00 per month + GST ($20,460 annually).
• Lessee pays 50% of outgoings (water, rates, sewer, insurance).
• Lessee pays 100% of Glass Cover Insurance.
• Lessee is responsible for all kitchen maintenance costs.

Residential tenancy:
• Currently leased at $300 per week ($15,600 annually).
• Fixed term lease until 29 February 2023.
• Lessee pays electricity and gas outgoings.

PROPERTY PARTICULARS:

Commercial:
• Maintained, solid ground floor commercial premises, leased to 'Double Shot Café' and run as a café for over 10 years.
• Attractive, open seating area complimented by polished floorboards and original pressed tin ceilings.
• Commercial kitchen area.
• Patron amenities (1 x toilet).
• Secure, paved courtyard for outdoor dining.

Residence:
• First floor flat, comprises 2 bedrooms with multiple reverse cycle units.
• Fully equipped bathroom includes bath, separate shower recess, vanity and toilet. European laundry.
• Spacious kitchen includes electric cooking.
• Large living area with ornate open fire place.
• Rear lane access and carport.

OPPORTUNITY TO INCREASE YIELD:
Opportunity to develop another 2 bedroom, 2 storey residence with rear access, subject to Council approval. Contact agents for further information.