Strong Performing Store in Waterfront Precinct
145/41 Eastlake Parade, Kingston ACT
Burgess Raswson as the exclusive selling agents are proud to offer to the market the strong Performing Waterfront Precinct store in Kingston Forshore; a multipurpose and highly engage district of commercial and residential assets. Kingston is home to many well known restaurants, retail and offices with unparalleled views of Lake Burley Griffin.
Located on the main street in Canberra’s iconic busy waterfront precinct, East Pizza is a standout hospitality operator, well known to Kingston Foreshore’s locals and beyond. The 40 sqm property is fitted out with over $350,000 worth of purpose-built equipment, including a state of the art pizza oven (imported specifically for the tenant) and dynamic work space, to suit the needs of the highly experienced operator. The property is surrounded by approximately 3,500 residential apartments and engages large volumes of foot traffic which guarantees consumer business.
The property has a secure 11 Year Lease plus options to extend to 2039, with iconic Canberra pizza operator tenant with 14+ year of hospitality and business experience.
No stamp duty payable
4% Annual rental increase
New building with depreciation benefits
Large tenant investment with over $350,000 of fitout costs
100% of outgoings paid by tenant
Substantial investment with secured business
Management in place for this investment
Net income of $37,440 p/a + GST
To be sold by auction on 31st October 2019, at Doltone House Hyde Park, Sydney.
Auction sale contract and IM available upon request.