16 Borrack Square
ALTONA NORTH, VIC 3025

Superb Renovated Freehold Investment With Upside

Fitzroys is delighted to offer a superb double storey renovated freehold investment with upside located at 16 Borrack Square, Altona North.

Key features include:

•  Located in Melbourne's surging inner west
•  Centrally positioned within Borrack square’s bustling commercial precinct servicing the emerging and growing residential catchment
•  Recently renovated and immaculately presented building
•  Depreciation benefits
•  Rare fully leased investment opportunity in a tightly held location
•  Four tenancies spread across two storeys allowing for multiple income streams
•  Returning $107,700 per annum plus outgoings and GST
•  Tenants pay all outgoings in accordance with the lease
•  Value add potential with planning permit and endorsed plans in place for first floor extension
•  Wide dual street frontage to Borrack Square and Duke Street with separate access via Duke Street
•  Conveniently located adjacent occupiers such as Woolworths, CBA Bank, Bakers Delight, Chemist Warehouse, Australia Post, TAB, BWS, Millers Inn and supported with excellent car parking
•  Highly sought after opportunity in inner western location experiencing rapid growth and excellent prospects for future capital appreciation

Summary:

Shop 1- Florist
6 + 5 year lease
Fixed annual increases and market review at commencement of further term

Shop 2- Nail & Beauty Salon
7 + 5 year lease
Fixed annual increases and market review at commencement of further term

Level 1, suite 1 & 2- Private Office
1 year lease


*approx