Teska Carson is marketing a securely leased inner-city investment property at Richmond, one of Melbourne inner-east’s most popular retail and residential precincts. The property will be auctioned on Wednesday, November 24 at 12 pm on site.
Located just down the road from Epworth Hospital, at 168-170 Bridge Road, the property comprises a high standard, 333 square metre, showroom which has been fitted out to suit its current medical instrument sales, training and support business.
The air-conditioned tenancy includes reception waiting areas, training rooms, offices and kitchen amenities and features two on-site car spaces and excellent corner exposure including 10 metres frontage to Bridge Road.
According to marketing agents, Teska Carson’s Michael Taylor and Michael Ludksi , the property will be sold subject to a five year lease to Candela Medical Australia at a current rental of $103,809 per annum net with two further options of three years.
Mr Taylor said the property presented an excellent opportunity for purchasers to acquire an outstanding property located in the heart of one of Melbourne’s most vibrant inner-city retail, residential and entertainment precincts.
``This property will have enormous appeal to investors given the secure lease to a medical tenant in a hospital precinct and within one of Melbourne’s best known and most popular retail strips.
``This is the type of investment that is highly sought after by astute investors and there is no doubt that low interest rates make this sort of purchase that much more attractive,’’ Mr Taylor said.
Mr Ludski said the area had enjoyed significant commercial and residential development in recent years driven by population growth and the first rate amenity in close proximity to the CBD.
``The Richmond Hill precinct continues to experience a popularity seen in few other city fringe markets and that has and continues to drive high profile residential and commercial developments,’’ Mr Ludski said.
Mr Ludski said the location also benefitted from excellent public transport, recreational facilities and close proximity to major arterial routes, as well as a rich and eclectic mix of fashion, food, people and culture.
He said the property’s key attributes included:
A secure lease:
- Fully refurbished building;
- Bridge Road frontage;
- Excellent corner exposure;
- The location within one of Melbourne’s most highly sought after retail precincts; and,
- Close proximity to Melbourne CBD.
