AN EXCEPTIONAL INVESTMENT OPPORTUNITY NEWTOWN. This two storey corner shop with 3 frontages is operating as a restaurant over both the ground and first floors. Currently leased on a 5 year lease with annual rental increases of 3% + GST. Present rent approximately $54,400 per year + GST or ($1,046 per week + GST). Tenant pays for 100% of council and water rates plus 100% of fire safety maintenance. This property is completely setup as restaurant, features; full commercial kitchen, grease trap, exhaust ducting, extractors, polished timber floors, high ceilings, air conditioning and down lights. What more could you ask for.
This is a rare chance to secure a fully leased retail property in this tightly held retail/residential precinct. NEWTOWN welcomes everyone interested in the real and unexpected energy of Sydney.
Approximate statutory outgoings payable by the tenant is; Council Land Rates $1,897.46 per annum Water Rates $2,400.00 per annum.