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** INSPECTIONS ARE WELCOME AND AVAILABLE OVER THE FESTIVE SEASON AND NEW YEAR **
Available for the first time in almost 40 years, this local icon is a unique proposition offering a generational opportunity. Contact the Agent - Nick Holt - for the detailed IM.
A fully leased freehold investment, there are multiple income streams made up of 2 very well established and long-term leases on the commercial elements and also a residential component.
This property has been servicing the local community since 1910 as a corner store and in 2009 was given a major redevelopment and extension completely reinvigorating the property and focusing its use as a Local Cafe. The works were completed by the awarded local builder John Challen, and designed by the awarded architect Peter Van Rhyn, with no expense spared to ensuring the property will service the community for the next 100 years. This included all new services (and fire service) and a suspended slab to make any future plumbing changes easy to achieve with minimal disruption. An inground roof water storage tank was installed to capture and use water onsite.
As the property stands, there are 3 tenancies: Firstly the lease to the local landmark caf?, secondly the residential unit, and thirdly the basement storage. The zoning is R40 which allows for further development on the site with subdivision a possibility. The Permitted Use is caf?/deli and also residential. The storage and the residential apartment could be combined to create a townhouse as an example (STCA). This area could be subdivided if required for future benefit. A great way to offer alternate family accommodation as the children leave home. The opportunities here on the border of Peppermint Grove are fantastic.
Given the various components of the property, it will suit a myriad of various purchasers. It works incredibly well as an asset which diversifies a local portfolio, or those who are looking to invest in a local investment they can call their own!
For full details and lease information, please get in touch with the exclusive Agent - Nick Holt.
Address | Distance | Bed | Bath | Floor area | Sold date | Sold | Data source | |
|---|---|---|---|---|---|---|---|---|
 | 0.10 km | 5 | 4 | -m2 | Year 2024 Month 11 Day 13 | $4,820,000 | Council approved | |
 | 0.32 km | 4 | 2 | -m2 | Year 2024 Month 10 Day 15 | - | Council approved | |
 | 0.16 km | 4 | 3 | -m2 | Year 2024 Month 07 Day 30 | $2,460,000 | Council approved | |
 | 0.16 km | 4 | 3 | -m2 | Year 2024 Month 07 Day 30 | - | Council approved | |
 | 0.17 km | 3 | 3 | -m2 | Year 2024 Month 07 Day 10 | - | Council approved |