Overview

Positioned along the main street of Millicent with dual street access, 79 George Street offers an expansive commercial opportunity with multiple secure leases and further opportunity to be explored for any motivated investor, with current leases accounting for ~$190,000 per annum inc GST.Situated on approximately 3499sqm, the main structure with George St frontage offers approx. 1260sqm of mixed retail and commercial use, with well recognised brands both nationally and locally, plus a vacant shop space offering further rental potential not currently realised.From Railway Terrace at the rear, a renovated 3 bedroom 1 bathroom home provides a stable residential return of $320 per week on a fixed lease, as well as additional access to the off street carparking with room for ~25 vehicles. The primary lease, being the IGA Supermarket, offers a 10+10+10 fixed lease (commenced in 2020) at $154,000 p/a inc GST + outgoings, with a footprint that could allow for further additions such as a bottle shop, lotto kiosk etc (STCA & licensing). Subway has a 3+3 fixed lease (commenced in 2024) at $11,000 p/a inc GST + outgoings.A locally owned salon in the middle shop offers access both from the internal causeway as well as an external access, and has held a long term lease paying $7,800 p/a inc GST.The vacant shop offers 65sqm of retail space with great exposure and easy access from the rear entrance of the building and carpark, and has benefited from both fixed retail leases and "pop up" use in recent years, with the opportunity to add to strong annual returns.Recent improvements at the property include a significant $150,000 upgrade to the central air conditioning system, and a large 60kw solar system to assist in utility expenses. The 3 bedroom dwelling has also benefited from an extensive renovation approx. 5 years ago.A fantastic opportunity to secure a lucrative commercial investment in a regional township that has demonstrated significant growth in recent years and even greater potential for more - contact Alistair today for more information.Additional Property Information:Approx Property Age: 1950sLand Size: approx. 3499sqmBuilding Size: approx. 1260sqmRLA - 291953

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