Iconic St Kilda Freehold Investment | Renewed Lease to 2030 Plus Options

175 Acland Street , St Kilda VIC

Property Highlights

Tenant On-Site for 10+ Years
Iconic freehold building
Acland Street institution
Register to Bid

Description

+ Renewed lease to 2030 plus three (3) further five (5) year options through to 2045
+ Veludo Bar: Hospitality giant on site for over 10 years, licensed for 300 patrons
+ Strong and certain income growth with fixed annual, compounding 4% increases
+ Income: $194,780 pa* + GST (as at 1 June 2024)
+ Investor preferred net lease terms with tenant paying all usual outgoings excluding Land Tax
+ Trophy 321sqm* Commercial 1 Zone (C1Z) landholding with important 7.27 metre* frontage to Acland Street
+ Extensive tenant funded upgrade and refurbishment
+ Well presented 380sqm* 2-level venue including bar and restaurant
+ Irreplaceable position in close proximity to Acland Court Shopping Centre, Luna Park, Palais Theatre, Woolworths, Coles and St Kilda beach
+ St Kilda: Affluent inner metro suburb with $1,525,000 median house price**
+ St Kilda: World renowned beachside location only 6km from Melbourne CBD with 1.38 million visitors annually***
+ City of Port Phillip: A significant metro Melbourne LGA with a current population of 117,711 residents that is forecast to grow 42.2% to 167,363 by 2041 ****

To be sold via Investment Portfolio Auction 167
Wednesday 27 March 2024
Crown Casino, Melbourne
Unless Sold Prior

Bidder registration required, register here.

Please contact the exclusively appointed sales team for more information.

ASIAN INVESTMENT SERVICES
ZOMART HE 何梓轩
0488 220 830
zhe@burgessrawson.com.au

Aston Commercial
D’Andra Rao
0404 116 900
dandra@astoncommercial.com.au

*Approx
** realestate.com.au
***St Kilda Melbourne
****Forecast.id

Property Details

Listing
Sale
Current Tenant
Tenanted
Occupancy Type
Retail
Land Size
321 SQM
Building Area
380 SQM

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