A great way to diversify your investment with two residential units and one of High Street’s best commercial spaces.
This building is a classic. The large High Street location, with a long history within the township could be a chance in a lifetime for the studious investor.
With an impressive total income for the property of $48,080 per annum, this is a great buy.
The commercial space on the ground floor (retail shop) – currently leased on a month-to-month basis at $20,000 per annum. The tenant paying council rates, water rates, and insurance. The total commercial areas is around 150m2.
The property boasts an excellent street front presence and facilities including multiple toilet facilities and kitchenette.
The upstairs unit is vast ( 180+m2!) and currently configured into a three bedroom unit.
This is currently leased at $15,600 per annum, with the current lease expiring in June 2024.
It was original constructed as a residence for the owners and retains features such as lovely timber staircases and ornate ceiling roses.
The potential for a renovation to revive this into a spectacular residence or high-end rental is certainly within reach.
The rear Residential Unit is a ground floor three bedroom and is currently leased at $12,480 per annum. The current lease expires September 2024.
This is also a very strong opportunity to renovate and secure a larger return on your investment on this extremely central location. The unit has a floor space of around 100m2 with extra sheds and gardens.
This could be a chance to climb the investment ladder and tap into growing local market.
Please contact Hayden from Derwent Real Estate for more information or to organise a private viewing.
