A strata titled retail investment property situated in the Somerville Plaza local shopping and service strip.
It has a floor area of 70m2 and is leased by a business which operates a popular Subway store, having occupied the premises since 2004.
The current annual lease payable stands at $27,000 plus GST plus Outgoings. On its expiry in May 2019, the tenant holds options of two further terms of five years. Upon renewal of the lease, annual increases of 3% apply.
This property offers a market competitive yield of 5.3% making it suitable for a small investor or for a self-managed superannuation fund.
Further property particulars are available from Barry Plant Commercial Division or their agents Frank Hellier 0418 556 145 or George Papas 0402 992 978.
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