This is solid Bricks and Mortar currently yielding a generous 11.21% Net after management fees. This building was originally set up housing up to 6 separate tenancies via an arcade from Macquarie Street through to a car park at the rear with a very neat and recently refurbished / refurnished apartment above. Currently there are two down stairs tenancies, one leasing 4 of the 6 shops and the other leasing the remaining 2 with the above apartment also fully leased as well as fully furnished.
The main tenancy is a very popular take away retail business and the other a collectables / second hand business. There is no doubt the building does need a little TLC right now but the structure is sound and the bones for a well-presented long-term property are there. With a yield of 11.21% then a little capital spend is certainly achievable.
Contact: Marcus Douglas