Longstanding Pakenham butcher shop for auction

A longstanding Melbourne butcher shop has been listed for sale. It has recently renewed a three year lease to 2019 however there is the opportunity to extend it until 2025.

The single tenant investment at 135 Main Street Pakenham has a a rent of $67,638 pa.a with a fixed annual rent increase of three percent with the tenant paying all usual outgoings. It has a large 250 sqm area site with dual retail frontage to main street and a public car park at the rear of the building. It has also been approved for premium Commercial 1 zoning. 

The building is in a central position within the thriving retail strip with numerous national retailers nearby including CBA, Chemist Warehouse, Westpac, ANZ and Australian Post to name just a few, it is also to close proximity to Pakenham train station.

The Pakenham and Cardina Shire Council is undergoing significant residential development with 94,492 population forecasted to grow to 175,453 by 2036.

The auction is on October 26 through Burgess Rawson agents Doug Doyle and Shaun Venables.