A new hospitality option is set to occupy the ground floor of The Moreland apartment complex in Brunswick West following the sale of retail space at the site.

Fitzroys agents Jordan Ceppi and Ervin Niyaz negotiated the sale of the 80 square metre property at 444-446 Moreland Road to a private investor for $490,000, reflecting a 6.1%  yield.

The incoming Four Eatery and Espresso Bar is signed up on a 5+5+5-year lease with 4% annual increases. 

At a glance:

• Retail space on ground floor of Moreland apartment complex sold for $490,000 to a private investor, reflecting a 6.1% yield.
• Fitzroys agents Jordan Ceppi and Ervin Niyaz negotiated the sale of the 80 square metre property.
• The incoming Four Eatery and Espresso Bar is signed up on a 5+5+5-year lease with 4% annual increases.

It's positioned at the base of Altus Development's four-level 52-apartment building, which was designed by Peter Brown Architects.

Mr Ceppi said the property’s secure lease and positioning within the booming suburb of Brunswick West proved to be attractive elements for investors. 

“The project is just metres from Melville Road, which offers tram services running through the hospital precinct and near Melbourne University and RMIT University and Queen Victoria Market through to the CBD,” he said. 

“Meanwhile, the café secure lease and immediate catchment offer the owner a solid investment with healthy growth prospects. 

“Brunswick West currently has a number of medium and high-density developments recently completed and in various stages of planning and construction.” 

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