Irreplaceable Frankston Retail Investment

16 Shannon Street Mall, Frankston VIC

Property Highlights

Secure 8 Year Lease To 2026

Annual 4% Rent Increases

Tenant Pays All Usual Outgoings

Description

8 year lease to 2026 plus options
Fixed 4% rent increases and market review
Innovative food retailer at doorstep of Bayside SC
Securely leased with director’s guarantee & 6 month security deposit
Leased to experienced hospitality operator with hugely popular, second upmarket restaurant on Frankston Foreshore (Geonbae)
Significant capital intensive refurbishment by tenant including kitchen upgrade
Irreplaceable retail position capturing significant pedestrian flow via thoroughfare between Wells St precinct, Bayside Entertainment Complex (Hoyts, Strike Bowling) & Bayside Shopping Centre – ALDI, Coles, K-Mart, Myer, Target, Woolworths – 241 tenants & 3,452 car spaces
Net lease, tenant pays all usual outgoings as per the lease
No shopping centre fee’s applicable
Single tenant, minimum management investment
Frankston: Gateway to Mornington Peninsula 45km south of Melbourne CBD – 80.60% median house price growth in the last 5 years (Source: realestate.com.au)
Rent: $65,738 pa

Private Sale

Property Details

Listing
Sale
Current Tenant
Tenanted
Occupancy Type
Retail
Land Size
54 Squaremeter
Gross Building Area
54 Squaremeter

Contact Agents

Scott Meighan

0413 830 709

Jamie Perlinger

0413 860 315

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