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Bakery Location for Over 50 Years with Renewed 5 Year Lease

57-59 Thompson Avenue, Cowes VIC

Property Highlights

Renewed 5 year lease to 2023+ options

Generous annual rent reviews

2 minute walk to Cowes beach front

Description

Brand new 5 year lease to December 2023 (Options to 2033)
Generous annual rent reviews assuring growth
A short 2 minute walk to the Cowes beach front
High profile 262 sqm corner commercial building with 35 metre frontage
Premium Commercial 1 Zoning with potential redevelopment upside STCA
Proven bakery site for over 50 years, with business changing hands only 3 times within this period
Current owners trading for over 15 years and supply daily numerous convenience stores on Phillip Island
Situated adjacent to new ALDI and within metres of other national retailers including Woolworths, Coles, NAB and ANZ
Tenant pays all usual outgoings as per the lease excluding land tax
Conveniently located less than 2 hours south east of Melbourne CBD
Phillip Island: Tourism mecca attracting approx. 2.4 million visitors who spent an estimated $479 million in the year ending September 2018
Rent: $81,043 pa + GST

Auction 11am AEDT Wednesday 27 February 2019
River Room, Crown Casino, Melbourne

Property Details

Listing
Sale
Current Tenant
Tenanted
Occupancy Type
Cafe
Land Size
262 SQM
Gross Building Area
262 SQM

Contact Agents

Beau Coulter

0413 839 898

Raoul Holderhead

0413 860 304

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