Leased retail property in Burwood East for sale: Teska Carson

Leased retail property in Burwood East for sale: Teska Carson
Staff reporterDecember 7, 2020

Teska Carson is marketing a retail investment opportunity at Burwood East in Melbourne’s eastern suburban heartland.

The property will be auctioned on Friday, March 27 at 1pm on site.

The shop 13, 10-14 Burwood Highway, property comprises a 60 square metre retail premises utilised as a newsagency and returning $46,160 per annum on an eight year term (with an eight year option) from August 2019.

Located in the tightly held and highly sought after Burwood Heights Shopping Centre the property, trading as East Burwood Newsagency, is part of a Woolworths anchored centre with 37 shops including a Commonwealth Bank, BWS, medical, health & beauty, café and food outlets.

According to Teska Carson marketing agents, Luke Bisset and Michael Taylor, the property also benefits from the Centre’s excellent exposure to both Burwood Highway and Middleborough Road, and ample on-site customer parking.

This is a superbly located property which infinitely enhances its investment credentials along with the secure eight year lease and the attraction of 37 specialty stores and the Woolworths supermarket.

These credentials have made these shops highly desirable from an investment point of view and it goes without saying that this property is likely to attract a high level of investor interest,’’ Mr Bisset said.

He said the property, zoned Commercial 1 under the City of Whitehorse Planning Scheme, also benefitted from its position within the City of Whitehorse which is home to some of Melbourne’s leading educational, medical and leisure facilities and features the largest information and communication technology precinct in Melbourne’s east. 

Located 20 kilometres east of Melbourne’s CBD the municipality covers an area of 64 square kilometres, has access to an extensive public transport system and is strategically positioned to take advantage of the Eastern Freeway and EastLink.

Mr Taylor said the local community was very well resourced and continued to attract new residents and new businesses.

This strongly growing community provides investors with confidence that demand for commercial property will also continue to grow,’’ Mr Taylor said.

He said the property’s key attributes included its prime location within a strongly trading centre, a secure eight year lease and transport links and parking. 

With good trade exposure, the property has optimistic growth prospects.

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