Sought-after Brighton, Victoria retail asset offers secure lease

A securely leased retail investment in Brighton, Victoria is expected to fetch $2 million.

The shop at 4/10 Church Street is currently leased to hair salon chain Toni & Guy at $92,472 per annum on a five year lease.

It comprises a 122 sqm retail space which forms part of retail and residential complex. There's also five car spaces and two street frontages.

Available through Teska Carson agents George Takis and Michael Ludski, the property is set for September 2 auction.

George said the location of the retail space is key to the sale.

"Church Street is renowned Australia wide for its broad cross section of retail offering which includes Coles and Woolworths, Witchery, Flight Centre, Country Road, Sportsgirl, Nike and the major banks, among many others, along with its intimate village atmosphere."

He said in recent years Brighton had emerged as one of the most sought after bayside residential locations in Melbourne with many new developments contributing to the vibrant local community.

"The area also attracts a large volume of visitors annually captivated by its cosmopolitan feel and the numerous and diverse retail and entertainment precincts, including those located in Church and Bay Streets."

"This combination of factors, along with forecast population growth, offers exceptional potential for businesses and future development in the area,’’ he said.