Price Undisclosed
2 Bed • 2 Bath • 0 Car • 185m²
New
![Main view of Homely house listing, 52 Madden Grove, Richmond VIC 3121](https://www.homely.com.au/img-resize/l-BoxDice-10561216-1.jpg?width=750&height=500&fit=cover&quality=60&format=webp&version=jR1lhKqi7.ICIkBl44Ret.fUF_5kTu6M)
![Second view of Homely house listing, 52 Madden Grove, Richmond VIC 3121](https://www.homely.com.au/img-resize/l-BoxDice-10561216-2.jpg?width=750&height=500&fit=cover&quality=60&format=webp&version=juF2NOc3t5our2hHk8JBrCm0XDtmTQM3)
![Third view of Homely house listing, 52 Madden Grove, Richmond VIC 3121](https://www.homely.com.au/img-resize/l-BoxDice-10561216-3.jpg?width=750&height=500&fit=cover&quality=60&format=webp&version=0qn_mEekHP2kqsSVmuTPR6ZQoBak2McA)
Sold
![Main view of Homely house listing, 52 Madden Grove, Richmond VIC 3121](https://www.homely.com.au/img-resize/l-BoxDice-10561216-1.jpg?width=1472&height=982&fit=cover&quality=60&format=webp&version=jR1lhKqi7.ICIkBl44Ret.fUF_5kTu6M)
![Second view of Homely house listing, 52 Madden Grove, Richmond VIC 3121](https://www.homely.com.au/img-resize/l-BoxDice-10561216-2.jpg?width=750&height=500&fit=cover&quality=60&format=webp&version=juF2NOc3t5our2hHk8JBrCm0XDtmTQM3)
![Third view of Homely house listing, 52 Madden Grove, Richmond VIC 3121](https://www.homely.com.au/img-resize/l-BoxDice-10561216-3.jpg?width=750&height=500&fit=cover&quality=60&format=webp&version=0qn_mEekHP2kqsSVmuTPR6ZQoBak2McA)
![Fourth view of Homely house listing, 52 Madden Grove, Richmond VIC 3121](https://www.homely.com.au/img-resize/l-BoxDice-10561216-4.jpg?width=750&height=500&fit=cover&quality=60&format=webp&version=G12odtl5sc.LpX.M099p.HE.5dqPVW60)
![Fifth view of Homely house listing, 52 Madden Grove, Richmond VIC 3121](https://www.homely.com.au/img-resize/l-BoxDice-10561216-5.jpg?width=750&height=500&fit=cover&quality=60&format=webp&version=q4L_F8lDwRYbb.cETC8K9XFge1egm0Vu)
Sold
52 Madden Grove, Richmond VIC 3121
Price Undisclosed
What's around Madden Grove
House description
“Sold”
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
Documents
Property video
Can't inspect the property in person? See what's inside in the video tour.
What's around Madden Grove
![Fourth view of Homely house listing, 52 Madden Grove, Richmond VIC 3121](https://www.homely.com.au/img-resize/l-BoxDice-10561216-4.jpg?width=750&height=500&fit=cover&quality=60&format=webp&version=G12odtl5sc.LpX.M099p.HE.5dqPVW60)
![Fifth view of Homely house listing, 52 Madden Grove, Richmond VIC 3121](https://www.homely.com.au/img-resize/l-BoxDice-10561216-5.jpg?width=750&height=500&fit=cover&quality=60&format=webp&version=q4L_F8lDwRYbb.cETC8K9XFge1egm0Vu)
![Sixth view of Homely house listing, 52 Madden Grove, Richmond VIC 3121](https://www.homely.com.au/img-resize/l-BoxDice-10561216-6.jpg?width=750&height=500&fit=cover&quality=60&format=webp&version=18lPo_Zex0TKqGAqUBeQVXkEpO_PXj.U)
![Seventh view of Homely house listing, 52 Madden Grove, Richmond VIC 3121](https://www.homely.com.au/img-resize/l-BoxDice-10561216-7.jpg?width=750&height=500&fit=cover&quality=60&format=webp&version=igdIrmtHWbWUBemZqE66CvFTmEzbmxqX)