This well presented, single level retail/hospitality building with a substantial garden bar is situated on a prominent corner site with two street frontages and a service lane to the rear.
A popular local restaurant occupies the western side of the property and opens to a substantial garden bar.
Gaming machines as well as more bar seating and bathroom facilities are located on the eastern side. There is a small upstairs area for staff offices.
The bar and restaurant operation are supported by income from gaming machines.
It has been seismically upgraded to exceed 67% of New Building Standard and the lease has just been renewed for a further term of five years with the tenant paying the outgoings.
Returning $128,000pa net + GST this property represents a functional, fit for purpose investment proposition.
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• Established tenant with new 5-year lease
• Seismically upgraded to exceed 67% of New Building Standard
• Net lease – tenant pays the outgoings
• Current net income $128,000pa + GST
