Thursday, February 28 at 12:00noon, on site
384 Nepean Highway, Chelsea
Nichols Crowder is excited to offer to the market a fantastic food investment with potential development upside (STCA). Located at 384 Nepean Highway, Chelsea, the property is to be auctioned on site on Thursday 28 February at 12:00noon.
Set on land of approximately 225sqm, the building of around 75sqm is currently leased to an Indian restaurant operator for $35,510 per annum, plus GST. The current lease has fixed annual rent increases and expires in July 2021, with a 5-year option.
Julian Vautin, Sales and Leasing Executive, says the restaurant is in a great location. “With its own train station and nearby beach, the Chelsea shopping strip is popular with locals and visitors. The property benefits from being next door to the Longbeach Hotel, its proximity to Woolworths, and the high traffic flow along Nepean Highway,” he says.
Sales and Leasing Executive, Allan Brodie, adds, “Our investor buyers love food-based investments as they know this sector will continue to grow with the ever-increasing population. Also, low yields are often achieved for these low risk tenancies”.
Inspect as advertised or by appointment. Open for inspection on:
- Thursday, February 7, from 12:00noon to 12:30pm
- Thursday, February 14, from 12:00noon to 12:30pm
- Thursday, February 21, from 12:00noon to 12:30pm
NB: All areas and measurements are approximate. All prices are plus GST, unless otherwise stated.