- 1233-1237 Howitt Street, Wendouree
- 2884 square metres
- $2,800,000 + GST
- Agent: Charles Kennedy
- Contact: 0431 914 778
The property is being sold as a freehold investment to long-term national tenants of ANZ and NQR Discount Variety Warehouse, which currently occupy this 1064 square metre building.
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The property is currently returning $192,052 per annum net rent with fixed annual increases, offering a return of 6.8 per cent on your investment.
The building sits on a generous mixed use zoned site, with a frontage of 48 metres to Howitt Street, providing exceptional visibility to passing foot and vehicle traffic from both directions in this bustling retail precinct.
It also includes 50 rear car parks on title, with drive-around access and has the potential to achieve higher rental income by repurposing it back to its original office use. Concept plans have been created by the team at Project Now to fully illustrate an office conversion.
The recent expansion plans for nearby Wendouree Railway Station further confirms the growing strength of this location.
National tenants, strong annual rent increases, a large site, location growth and the potential to convert back to office use all add up to an investment you can bank on.
