UNDER OFFER - $1500000

Description

The subject property comprises a beachside two storey retail/residential premises, which holds a street frontage to Nepean Highway/Beachway Lane and a rear council lane, Chelsea. The overall development comprises two ground floor retail premises, first floor and two residential one bedroom units and a further 3 offices. The development is situated on a regular shaped allotment comprising a total area of approx 528 sqm. The gross building area of the development has been calculated at 689 sqm approx . The subject property is situated on the western side of Nepean Highway and located adjacent to right of way being approx 30kms south of the Melbourne Business district. The property is located in a predominantly retail area and offers good exposure to both south and north bound traffic and excellent pedestrian flow. The title particulars indicate the frontage to Nepean Highway is 12.19 with a depth of 43.28 m. The zoning is Business 1 zone. 386 Nepean Highway, Chelsea 128 sqm Leased currently to Begonia Florist $18,720 pa plus gst 388 Nepean Highway, Chelsea 247 sqm Leased currently to Gribbles $18,720 pa plus gst 1/387 Nepean Highway,Chelsea 42 sqm Leased currently to Telstra $20,600 pa plus gst 2/387 Nepean Highway,Chelsea 26 sqm Vacant 3/387 Nepean Highway,Chelsea 62 sqm Leased currently to Yoga $6,504 pa 1/389 Nepean Highway,Chelsea 56 sqm Leased currently Residential $6,504 pa 2/389 Nepean Highway, Chelsea 73 sqm Leased currently Residential $6,504 pa External Amenities 11 sqm first floor common areas 44 sqm total area 689 sqm2 Annual return $77,552 excluding gst