Expert insights Investing Melbourne curry house and upstairs studio apartment sells for $1.03 million
Melbourne curry house and upstairs studio apartment sells for $1.03 million
Larry SchlesingerDecember 7, 2020
A two-level CBD shop and dwelling at 597 Elizabeth Street has sold at auction for $1.03 million.
The ground floor space is leased for six years to popular Indian food tenant Classic Curry.
It brings in annual income of $53,547 plus GST reflecting an indicative yield of around 5.2%.
Chris Kombi and Mitchell Humphreys handled the campaign.
Located within the Queen Victoria Market precinct, the property is zoned mixed use and has a building area of around 150 square metres, encompassing the ground floor restaurant and a first floor studio apartment.
Classic Curry operates a second restaurant in Sunshine.
Larry Schlesinger
Larry Schlesinger was a property writer at Property Observer