Friday 15th September at 12 noon, on site
13 & 15/ 90 Main Street, Mornington
Nichols Crowder is delighted to offer to the market a pair of well-located shops in an iconic arcade in the heart of Mornington’s busy retail strip. Situated at 13 & 15/90 Main Street, Mornington, this double investment opportunity totalling 88sqm is to be auctioned on site on Friday the 15th of September at 12 noon.
The two shops are currently leased to quality tenants for a combined $46,409 per annum (net). De La Rue Beauty’s current 5-year lease expires on July 1, 2019, while Milkbar Clothing’s 5-year lease expires on May 1, 2020. Both have an additional 5-year option, with annual CPI rent increases and a market review at option.
Sales and Leasing Executive, Jamie Stuart says, “These two shops are located close to several major retailers, such as Coles, Target and Liquorland, which generates steady foot traffic. Their proximity with many other retailers and restaurants along busy Main Street and near Mornington Central makes this a great investment. With the current shortage of investment opportunities along the Peninsula, the yield expectation is just shy of 5%.”
Tanya Scagliarini, Sales and Leasing Executive, adds, “Main Street, Mornington is a popular shopping area for locals and visitors to the region. Also, ABS data show that Mornington comprises older demographics and a high proportion of families without children. These factors mean that more residents are likely to have spare discretionary income, which they look to spend with local retailers.”
Inspect as advertised or by appointment.
Terms: 10% deposit, balance 30/60 days.
NB: All areas and measurements are approximate. All prices are plus GST, unless otherwise stated.
For further details, please contact:
Jamie Stuart Tanya Scagliarini
0412 565 562 0438 289 859