A SET AND UNFORGETTABLE INVESTMENT.
POINT OF INTEREST:
For sale via Public Auction on the 28th March 2023 at 12 midday on site.
A significant Bayside opportunity has opened on Black Rock’s busiest street. In its current form, we can refer to this as a hospitality investment as Taco Bill will be slinging hot sauce here for at least the next four years. This equals a leasing income of $66,950 per annum net, with a 3% annual increase. However, if you have ambitions beyond this, the zoning here could lend itself to a future residential multi-level development. And it’s worth considering, particularly when you notice the building sits as close as you can get to Beach Road without the address (and price tag) being as such. Bayside retail or hospitality assets rarely hit the market to purchase, and Balcombe Road has deeply loved household names here that serve the community (and visiting beachgoers) in spoonfuls. Your name is next.
- Leased to Taco Bill since 1984.
- Recently renewed for 5 years (1st January 2022) with a 5 year option.
- Current lease value of $66,950 per annum with a 3% annual increase.
- 230 sqm* of total building area.
- 234 sqm* of land area.
- Onsite parking & side vehicle access.
- Commercial 1 zoning.
- 12-month demolition clause in place for development (landlord’s option only).
- Future development potential for commercial / residential (STCA).
POINT OF VIEW:
Either high street or bay views — depending on your vision. Either way, both are guaranteed to deliver on ROI beyond tacos.
*Approx.
Pricing excludes GST