The western portion of the Melbourne Building was totally refurbished in 1999 and now houses a mixture of quality food and drinking establishments on the ground floor and Quest Serviced Apartments on the first floor. During the refurbishment the building was basically stripped bare and totally refurbished. All units are self contained and include separate toilets, individual air conditioning, grease traps and exhaust connection (where required). The building has a full sprinkler system and the first floor is serviced by a lift that is contained within the Quest Apartments tenancy.

This property offers investors an extremely rare opportunity to purchase a quality retail property in a sector of the CBD that has and still is undergoing significant residential, commercial and educational development. Unit 41 is occupied by The Muddle Bar and is 172 sqm in size.

The tenant has a 5 + 5 year lease with the initial term expiring on 16/10/2014, 4% annual increases, 3 month bank guarantee and personal guarantees.

Estimated Net Income -$107,000 pa plus GST