This thriving complex of 8 leased shops is offered for sale the first time to dissolve a long term partnership with the owners now in retirement.
Complex includes Supermarket, Chemist, Doctors Surgery, Newsagency, Hairdresser, Bakery, Takeaway shop and an Asian Condiment Shop.
Most of these businesses have been there for many years and the mix of shops ensures a good through put of customers.
All shops are in excellent state of repair and the chemist has just undergone a major refurbishment. As well as street parking there is a carpark for some 20 plus cars behind the supermarket.
Good long term leases are in place and most shops are on 4% annual rent increases. 4% increases should push rents to about $180,712 in 36 months pushing the return out to around 9%.
Tenants pay all out goings. The shops mainly service the Croft Estate & Hillcrest areas and opposite are a Technical College and a crEche which both bring many customers to the shops each day.
This complex has stood the test of time and only the retirement of the owners sees it come to the market.
For more details call the Listing Agent.