Secure Supermarket Investment - New 10-year lease.

GrayJohnson is pleased to offer for sale this single-storey brick property located in the heart of a popular Fawkner shopping village. Currently with permitted use as a grocery store, this property is being offered for the first time in 43 years.

It provides immediate and ongoing returns to the investor under the terms of a 10-year lease commencing December 2022.

The Bonwick Street precinct is a popular neighbourhood shopping strip with recently refurbished streetscapes and is home to a cosmopolitan range of eateries as well as an IGA supermarket, chemist and other local retailers.

This property enjoys excellent main road exposure, with an adjacent laneway and rear access from ample council car parking at the rear.

Neighbourhood shopping strips such as this one have provoked considerable interest from investors and this is an opportunity to lock-in solid returns from an essential services segment of the market. With an established tenant, a long-term lease in place and a high profile main road location, this property makes a great foundation for, or addition to, any property portfolio.

The opportunity:
• Land area 180 sqm*
• Building area 175 sqm*
• 10-year lease commencing 10 December 2022
• Returning $40k pa net plus GST
• 3% annual reviews
• Adjoining laneway and rear access
• Commercial 1 Zone

The location:
• Popular shopping strip location
• 700m* from Gowrie railway station
• Easy access to Western Ring Road and motorway network
• 12km* north of the Melbourne CBD

Auction Friday 18 August @ 11 am

*approx