Chapel Street investment with five year lease for sale
A retail and residential investment opportunity on one of Melbourne's prime retail strips in Windsor has been listed for sale.
The Chapel Street property is located on the eastern side of the street, on the corner of Duke Street.
Spread over two levels, the renovated building has a ground level retail shop and a first floor two bedroom apartment with separate entrance.
The property has six metre frontage to Chapel Street and 16 metres to Duke Street.
It comes leased to two tenant, including a new five year lease to the ground floor tenant, Windsor Bar & Bistro. The lease yields $106,284 per annum.
Teksa Carson agents George Takis and Michael Ludski are marketing the commercial investment for a December 14 auction.
They said the property presents an exceptional opportunity for investors to acquire a securely leased asset situated on one of Melbourne’s premier retail strips.
"Chapel Street is arguably Melbourne’s premier retail strip and home to national and international designers along with a wide range of hospitality operators," Takis said.
"This particular precinct of Chapel Street has seen a major upsurge in popularity due to its eclectic style and first rate tenancy profile,’’ Mr Takis said.
"Rarely do properties of this calibre become available in what is a very tightly held and very popular retail strip."
Chapel Street is home to a mix of food and fashion retailers, an abundance of lifestyle amenities and high-end residential developments.
