Cheltenham's ONYX café restaurant building to go under the hammer

A property on Reserve Road in Cheltenham, currently leased to ONYX café restaurant and bar, is scheduled to go under the hammer for the first time with a $1.1 million plus guide. 

The 203-square-metre building at 12/238 Reserve Road is currently tenanted on a five year + five year + five year lease, with an income of $77,500 per annum – a 7.05% rental yield.

The property was initially listed for $1.3 million but listing agent Charles Cini says the agency wanted to take a different approach and scheduled it for auction.

The vendor has owned the property for five years.

It is scheduled to go to auction on September 18 through Charles Cini, Jarrod Moran and John Nockles of CVA Property Consultants.

Nicola Trotman

Nicola Trotman

With a penchant for the written word, Nicola has built a career doing just this – now Creative Director at thriving Melbourne-based PR agency, Greenpoint Media.

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