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THE DEAL: Under Offer

2 Bed  •  2 Bath  •  0 Car  •  185m²

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Main view of Homely house listing, 52 Madden Grove, Richmond VIC 3121
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Under Offer

Main view of Homely house listing, 52 Madden Grove, Richmond VIC 3121
Second view of Homely house listing, 52 Madden Grove, Richmond VIC 3121
Third view of Homely house listing, 52 Madden Grove, Richmond VIC 3121
Fourth view of Homely house listing, 52 Madden Grove, Richmond VIC 3121
Fifth view of Homely house listing, 52 Madden Grove, Richmond VIC 3121
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Under Offer

52 Madden Grove, Richmond VIC 3121

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THE DEAL: Under Offer

  • 2Bed
  • 2Bath
  • 0 Car
  • 185m²

House under offer

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What's around Madden Grove

House description

“Under Offer”

OBVIOUS
A location known to many foodies across Melbourne and occupying a premier corner position!

Currently offered with a commercial retail tenancy in place, however, presents potential for future residential or development opportunity (STCA).

Positioned on approximately 185m² of commercial zone 1 land and securely leased to the renowned "Serotonin Cafe," offering a steady income stream. With exciting future upside for investors, developers, and owner-occupiers. The property consists of an open-plan single-level building with a polished concrete floor, and rear/side access via Stawell Street to the courtyard.
With an annual return of $47,750*, set to increase to $49,183* per annum on 25/03/2024, with the tenant covering all the usual outgoings.
Terms of Lease:
Three years starting on 25 March 2022
Review Dates: Fixed increases of 3% on 25 March 2023 and 25 March 2024
Further terms: Three further terms of three years each
Land size: 8.23m x 21.1m approx.
Land area: 185 sqm approx.
A city-edge location within the immediate vicinity of Monash Freeway, Swan Street, and Bridge Road retail shopping and bar/café/restaurant precincts, and walking distance to Burnley train station.

SEALS THE DEAL
A landmark 3121 acquisition and the perfect addition to any strategic investment portfolio, this is your chance to secure a commercial investment with both immediate returns and the potential for substantial future growth.
52 Madden Grove, Burnley, is offered for sale via Expressions of Interest closing Thursday 14th December 12:30 pm (AEDT).

Land details

Area: 185m²

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What's around Madden Grove

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Michael Torcasio

WHITEFOX Real Estate

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52 Madden Grove, Richmond VIC 3121
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52 Madden Grove, Richmond VIC 3121
  • 2
  • 2
  • 0
  • 185m²

Michael Torcasio

WHITEFOX Real Estate
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