Signage on Melbourne's busiest corner for Burgess Rawson auction
Jonathan ChancellorDecember 7, 2020
A rare Melbourne signage property with secure rental has been listed for August 5 auction.
It is located overlooking the corner of Swanston and Flinders Street, Melbourne's busiest intersection and opposite Flinders Street Railway Station.
It comes with new $1 million plus state-of-the-art digital signage upgrade at 7/238 Flinders Street.
There was a recent renewal for 15 years + 9 year lease to 2039 to Digital Outdoor Media (VIC) Pty Ltd, a leading Australian marketing company.
There will be annual CPI and 5 year market reviews with tenant paying all usual outgoings.
It comes with view and access agreement with adjoining property.
It's rent is $357,000 pa, with Burgess Rawson agent Graeme Watson advising its high yield anticipation circa 10%.
Jonathan Chancellor
Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.