Shop11 308-310 Springvale Road

Springvale

VIC

Australia

3171

Total floor area of approximately 206m2, sub-divided to create 2 shops.
Shop 11 is part of a group of Springvale shops providing various goods and services to the public. The high-profile position on Springvale Road, near to a Woolworths supermarket and associated large car park at the rear make it easy for passing traffic to access these shops.
In addition, many nearby residents frequent the area for work and shopping, be it for groceries, clothing, or dining. In addition, staff from nearby State Government offices and service providers, plus local government offices also frequent the area for similar reason.
Other businesses in the area include solicitors/conveyancers, accounting firms, medical and dental practitioners along with other specialist services. There are both primary and secondary schools within walking distance of the shopping complex.
Both shops are leased to long term tenants and provide a good return on investment.
Shop 11. Yoon's Grilled (approx103.1m2)
Current Lease commenced 1 August 2023 for a 5-year term with a 4% annual rent increase with 2 additional 5-year terms available. Commensurate rent of $55,000.00pa plus GST and 50% of all building out-goings, insurance and other requirements as specified within the lease agreement.
Shop 11B. Indian Grocery Store
Current lease commenced December 2020 with a 3-year term and a 4% annual rent increase included with an option to extend for a further 3 years. Commensurate rent of $53,558.40 pa inclusive of GST with the tenant responsible for 100% of all building outgoings, insurance and other requirements as specified within the lease agreement. Current Rental $4,443 pcm
Other fees:
Council Rates $ 4776 pa Water $1,176 pa Body Corp $2,800 pa