Superbly located within a multi-level corner property is the well-known and recognised Quest Hotel with the popular Nap Cafe on the ground floor. The property unit comprises of a modern cafe and bakery situated on a busy corner intersection with extensive frontage and profile to passing traffic and pedestrians. The stratum in freehold title contains a floor area of 161m² and currently has a Council capital value of $900,000.
The modern Nap Cafe premises are leased to two tenants and has a total annual income of $42,000 plus GST and outgoings. The tenant Nap Café commenced their lease on 1st September 2022 for a first term of 2 years with two further terms of rights or renewal. The annual rental is $38,000 plus GST and outgoings. Tenant J. Chen is leasing a storage area on a monthly annual rental of $4,000 plus GST and outgoings.
Please contact the listing agent for more information.
KEY FEATURES:
• High profile corner site location
• Modern new cafe premises and well-established business
• Secure commercial leases returning a total of 42,000 per year plus GST