Located in the heart of the Leongatha CBD, up for grabs is this fantastic property well known as ‘Russell Court Arcade’.
The Arcade is fully occupied and home to 7 different tenancies. The front of the Arcade is bright and inviting, with a town favourite Café on one side and a busy Barber on the other. Leading through the arcade, the tenancies vary; from service industries and consulting rooms to a long-term coin laundrette at the rear. The property has been well maintained and enjoyed a recent upgrade through the common areas. The busy IGA carpark is opposite the ‘rear’ access to the arcade, and the front of the arcade is right in the middle of the recently upgraded Bair Street and adjacent to the ANZ bank and Mitchell Arcade.
Main features include;
- 7 tenancies with approximate $69,500 gross rental income excluding GST (around $57,500 net excluding GST after taking out non-recoverable outgoings)
- Leases (start/finish dates) varying to give you added security of rental
- Central 505m² (approx.) of prominent retail site with dual frontage and exposure
- Key tenancies neighbouring, including ANZ, Terry White Chemist and Newsagency close by
- Adjacent to IGA supermarket with over 130 car spaces
- Male and Female common toilets
Contact Andrew Newton for more information or to arrange a private inspection. Note, inspection strictly by appointment and minimum 48 hours’ notice for access.
Disclaimer: Whilst every care has been taken in preparing the above information, it is to be used as a guide only. Please refer to the appropriate legal documentation to complete your due diligence.
