The improvements comprise 2 stand alone buildings, set on a valuable high profile Torrens Titled Allotment.
The Corner Building of approx. 246 sqm is configured to accommodate a Retail Showroom with self-contained amenities and lock-up yard at rear. The Corner Building is leased on a short term basis for period 01.09.20 - to - 31.12.20, with nil option to extend available.
The Rear Building comprises an office/warehouse facility - as purpose built, with roller door access, with a ground level area of approx. 210 sqm and a mezzanine level of 47 sqm as well, is leased. The new lease in place to an established Plumbing Contractor, is for a term of 5y + 5y from 01.06.20, at a commencing rental of $31K PA Gross + GST, with yearly reviews to CPI and market review at renewal. The lease also includes a Redevelopment Clause that will apply any time from 01.07.2025 on 6 months notice.
The land itself has a total area of approx. 556 sqm - is rectangular in shape, with frontage of 13.72m to Unley Road and 40.54m to Cremorne Street.
The land is located in a URBAN CORRIDOR ZONE - HIGH STREET (UNLEY ROAD) POLICY AREA 20, in the City of Unley. This zone accommodates a wide variety of land uses, commercial, retail and residential mix (STNC), with a maximum building height of 5 storeys.
The property offers a rare opportunity for intending owner occupiers, investors or developers to acquire a Landmark Unley Road holding with future developmental options.
The property has been held in the same ownership since 1981, and is offered For Sale (as a whole).
For further details contact Sole Selling Agents, George Zogopoulos, 8410 6444 or 0412 824 278.