Hawthorn Ultra Tune set for May auction

Hawthorn Ultra Tune set for May auction
Hawthorn Ultra Tune set for May auction

A securely leased investment property with development upside has been listed at Hawthorn East in Melbourne’s inner-eastern suburbs.

The property will be auctioned May 30 through Teska Carson.

Located at 9 Mayston Street, on the northern side of the street near the intersection of Camberwell Road, the property comprises a 470 square metre single level warehouse/office/showroom premises.

It comes with rear roller door access to Gillman Street.

The 562 square metre site has 11 metres street frontage, zoned Commercial 1 under the City of Boroondara planning scheme.

The property is situated within a tightly held precinct within close proximity of Burke Road, Camberwell shops, Swinburne University and Burwood Road retail, featuring a wide range of industrial and office buildings, retail boutiques and restaurants as well as access to ample on and off-street parking.

Teska Carson’s Richard Munday and Michael Taylor indicated the property is currently leased to long standing tenant, Ultra Tune, at a current rental of $90,000 per annum plus outgoings and GST on a five year term with two, five year options and annual 4% increases.

"This property ticks all the boxes for small investors and SMSFs,’’ Munday said.

Tags: 
Commercial Listing Hawthorn East

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