New 5 year lease to established ground floor tenant

Ground floor shop with separately accessed first floor two bedroom apartment
Land Area: 135sqm approx with rear right of way

Tenancy Details:
Ground: New 5 + 5 + 5 year lease to established bakery
First Floor: Residential agreement expiring April 2015
Combined Rental: $38,524 per annum plus GST

Significant rental upside

Major growth location

The property is located approximately 5 kilometres to the west of the Melbourne CBD and commands a central position within the Footscray Activities Centre.

Footscray is earmarked to play a major role for future employment, housing and private and Government investment. The State Government and Maribyrnong City Council recognise Footscray’s strategic importance as an ideal inner City fringe location that will serve western Melbourne’s population growth and demand. Accordingly, the Footscray Activity Centre has undergone significant transformation in recent times with many rejuvenation projects being undertaken by private and public consortiums.

These developments include:
Regional rail link works including the upgrade and redevelopment of Footscray Railway Station and the construction of two new bridges at Albert and Nicholson Streets providing improved connectivity to the Footscray Central Business District;

McNab Avenue - Major commercial office development undertaken by Grocon and upon completion will house various Government Departments and introduce some 1,200 white collar workers into the precinct;

Various mixed use developments including the Joseph Road precinct and 12 Albert Street.

The property provides easy access to the Melbourne CBD via Footscray Road and close by to freeway interchanges including CityLink and the Westgate Freeway.

Two Victoria University Campuses are located nearby, to the south and north of the property, which is a major generator of foot traffic into the precinct. (Auction Terms:10% deposit, balance 60 days)