The opportunity exists to invest in a unique, historical property nestled within the township of Riverton, heart of the Gilbert Valley. Situated conveniently between the famous wine districts of the Barossa and Clare Valleys; the property fronts Torrens Road, on the Barrier Highway and is the main thoroughfare from Broken Hill to Adelaide, making Riverton a destination for tourists and travellers alike being only 90 minutes North of Adelaide's CBD.
This is a rare opportunity to own the Freehold Title of a historic building in the heart of the main street of a bustling town located on a large corner allotment of 2000m2 (approx.) which includes vacant land zoned town centre allowing for the addition of a commercial development or managers residence (STCC).
The existing commercial zone on the ground floor of the two-storey stone building is currently leased to a much-loved thriving cafe, open 6 days a week catering to the local community and people passing by.
Upstairs, there is scope to refurbish & fit out the currently vacant space, with separate access; it could easily be transformed into an office space, consulting rooms or boutique tourist accommodation providing the flexibility to further increase revenue.
The attached, blue stone fronted tenanted residence boasts traditional features including:
Polished floorboards, high ceilings, 3 double bedrooms - main with ensuite, split system air con and walk in robe, laundry, generous kitchen and sun filled lounge with combustion heater, separate dining room and dual access from Masters Street and Torrens Road.
Built in 1879 and first occupied by Mullers Emporium, the building has been home to many Emporiums and stores throughout the years. It was extensively renovated in 2008 and is currently trading as Emporium Bakehouse. The cafe features outdoor dining capabilities as well as open plan seating, reverse ducted air conditioning, LED downlights throughout, commercial kitchen, and a large cellar under the footprint of the café completes this package which is only limited by your imagination.
The Riverton township has a full range of services including kindergarten, primary & high school, doctor, hospital, post office, two hotels, chemist, IGA supermarket, café, art gallery, deli, hardware, ladies boutique, hairdressers and excellent sporting facilities only 35 minutes drive north of Gawler and less than 100 kms from Adelaide. The climate is ideal and the lifestyle enviable.
Current gross income per annum: $49920 (GST incl.)
Attractive net yield of over 6% is possible.
Cafe Lease expires 20/8/27 with a further 1 x 5 year option
House Lease expires 27/1/24 with highly competitive market conditions
Inspections by appointment with selling agent - Nutrien Harcourts Riverton
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