- For Sale
Being marketed for sale for the first time since 1980, 274 Dominion Road, Mount Eden is a true add value proposition in every sense. Rental growth, building refurbishment, and re-development options are all present and attainable for purchasers with an understanding of the value this property and prominent retail location hold.
The property is fully tenanted returning a holding income of $112,050 with all leases short in term in nature. The ground floor retail and showroom premises has character warehouse charm with exposed brick walls, A-frame ceilings with timber rafters, and excellent natural light. Geoff’s Emporium (previously “Ike’s Emporium”) occupy this large space and have done so as long as the current vendors have owned the building. The neighbouring Irish pub, The Clare Inn, leases a small retail space fronting Dominion Road, and two residential tenancies situated on the first floor complete the split-risk tenancy profile.
The 705m² site has good frontage to Dominion Road that provides exposure to passing pedestrian and vehicle traffic. A service and pedestrian entry at the rear of the building – accessed via right of way - creates valuable dual access to the property, handy with the traffic that local anchor tenant, Countdown, provides being situated directly behind.
Significant rental upside and obvious re-development potential for the site make this a ripe opportunity for add-value investors. In addition, short-term leases also make this an option for owner-occupiers of either a commercial or residential nature.
Contact the sole agents for further information and viewing times.