4/346 Pakington Street,
Newtown, VIC 3220

Shops & Retail

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Parking info

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Map of 4/346 Pakington Street

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Pakington Address Tempts First-time Investors

Small or first-time investors can enter the commercial property market at Shop 4/346 Pakington Street, Newtown. Set in the heart of Newtown's "Chilwell" retail precinct, the property is set to benefit from the village-style shopping strip which attracts interest from residents of the blue-chip suburb and surrounding areas. The property is currently leased to West Coast Bakeries, which uses the shop as the cooking area for its bakery business next door.
The long-standing tenancy returns a current income of about $12,200 per annum, plus outgoings. The building is 51.04sqm approx and is zoned Business 1.
Rare opportunity to purchase in Pakington Street at affordable entry level
Well leased premises to strong tenant
Current rental:
$12,200 p/a plus outgoings
Lease Term:
5 years from 14/05/2004 plus further 5 year option
Superb opportunity for capital growth
Building Area:
50.9 m2 (approx)
Heart of Chilwell commercial precincts
Zone:
Business 1 zone
Terms 10% deposit, balance 60 days
The business which occupies the premises is not included in the sale

Additional information

External websites

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Newtown, 3220 demographic data

The median household income for Newtown is $2,092, 51% higher than Regional Victoria's household income of $1,386. Newtown has a younger age profile compared to the rest of Regional Victoria (median age 40 vs 43). Property ownership data shows 45% of property owners in Newtown have a mortgage.

10,445

Population

$2,092 per week

Median household income

40 years

Median age

Owners

Most residents

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Most households