Strategically located at the corner of Mount Smart Road and Felix Street, the properties comprise three freestanding buildings totalling 1,315m² of Freehold land.
Building 1: the Hutchinson Arcade is a block of six retail shops, with long-term established tenants, including a bakery, a superette, a liquor store, a takeaway shop, and a barbershop.
Building 2: also known as 53 Felix Street, is a freestanding three-bedroom residential house, with tenants in place.
Building 3: also known as 53c-e Felix Street, is a workshop/office space.
Current combined holding income of approximately $175,149 net + GST per annum (with some vacancy), with the potential income to be approximately $218,000 net + GST per annum if fully leased.
KEY FEATURES
• Large Freehold land of 1,315m² in an upcoming area
• Combined net rentable area of approximately 737m²
• Split income streams from commercial and residential tenancies
• Long-term established tenancy in place
• Huge rental upside with owner-occupier options available
• Current holding income of approximately $176,149 net + GST per annum
• High yield investments like this are hard to find
• Motivated vendors - this one will sell