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Overview
TROPHY CORNER INVESTMENT IN THE HEART OF ABBOTSFORD
297 Victoria Street, Abbotsford, presents a unique investment opportunity in one of Melbourne's most sought-after retail and dining precincts. This premium corner property is currently leased to a reputable tenant, TungThit, a well-established operator known for authentic cuisine and a loyal customer base, ensuring a stable and reliable income stream.
The property benefits from a long-term lease agreement commencing on 1 February 2021, with an initial term of eight years and options to extend for an additional five years plus another five years. This lease structure provides investors with security and peace of mind, supported by fixed annual rental increases of 3%, guaranteeing steady growth in rental income over the lease term.
Key features of this investment include a current rental income of $150,818.18 per annum plus GST and outgoings, highlighting the property's strong income-generating potential. The building offers a substantial 360 square meters of floor space on a 243 square meter land parcel, complemented by four dedicated car parking spaces, enhancing its appeal to tenants and customers alike.
Strategically positioned with over 42 meters of frontage to both Victoria Street and Charles Street, the property enjoys excellent exposure and visibility in a vibrant and bustling area. This prominent corner location is highly sought after, benefiting from the increasing residential and commercial activity in Abbotsford, which continues to drive demand for high-profile retail assets in this tightly held strip.
Investors will appreciate the combination of secure income, fixed rental growth, and a long-term lease covenant, making this property a sound addition to any investment portfolio. The thriving Abbotsford precinct, known for its dynamic food and lifestyle scene, underpins the tenant's strong trading history and ongoing success.
This offering represents an exceptional chance to acquire a trophy retail investment in the heart of Abbotsford, with the potential for capital growth alongside consistent rental returns. The property's location, tenant quality, and lease terms collectively provide a compelling investment proposition in Melbourne's competitive commercial property market.
While every effort is made to ensure the accuracy and completeness of the property information provided, no guarantee is given. Buyers should independently verify all details, inclusions, availability, pricing, and other relevant information directly with the listing agent before relying on this information.
Location
Abbotsford VIC 3067
Measurements
| Type | Dimensions |
|---|---|
| Floor Area | 360 m² |
Market Insights for Abbotsford VIC 3067
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