NEW TO MARKET
A VERY RARE OPPORTUNITY ON GEORGE ST
Very rarely does an opportunity to purchase such a large landholding in the tightly held Plymton Ward arise, let alone a remarkable property like this with a mixed commercial/residential use including.. Show more >
Very rarely does an opportunity to purchase such a large landholding in the tightly held Plymton Ward arise, let alone a remarkable property like this with a mixed commercial/residential use including established Cash flow.
Built in the early 1900's, these properties have a great street presence and attractive facades, incorporating two hospitality businesses which are well known in the area. Situated on the corner of George and Duke Streets in the top end of the popular and tightly held George Street Precinct, the properties are ideally located across the road from the vibrant "Duke of George" and "The Royal George Hotel" which is due for renovation and development by end 2022.
The properties comprise a multi-lot strata with 3 separate tenancies in place, being sold as a package. Details of the lots included in this sale are noted below:
• LOT 1: A 1 bedroom, 1 bathroom limestone semi from the 1900's. Currently leased as a residential property with tenancy in place until March 2021. This property was repainted in 2019 inside & out with lighting and window treatments being updated.
• LOT 2: A brick and limestone corner building with feature exterior and a thriving business in place. Eugene's Pizza is a local favourite and has established a strong following in the past 12 months of trading. The first term of the lease is up to May 2022, with options for a further 6 years.
• LOT 3: Comprises of weatherboard & tin building, with indoor and outdoor dining areas including a large covered alfresco. This lot is leased as a restaurant/bar (Little Fire) and also enjoys strong trade. The initial lease term ends January 2022, with options for a further 7 years.
This is a unique opportunity to redevelop, retitle or hold the properties as is with long leases and strong tenancies in place. There is no similar offering available in the current market and if you would like more information or would like to view the properties, please do not hesitate to contact Andy McIntyre on 0409 699 567.
PLEASE NOTE: While every effort has been made to ensure the given information is correct at the time of listing, this information is provided for reference only and is subject to change. Show less