Teska Carson is marketing a leased retail investment with upside at 103 Lygon Street Carlton for sale, one of Melbourne’s most sought after restaurant/retail strips. Teska Carson Stephen Speck and Adrian Boutsakis are the appointed agents. 

The property will be auctioned on Thursday, July 29 at 1pm on site.

The 103 Lygon Street property comprises two levels over 550 square metres including a 365 square metre, ground floor, retail space, with 15.5 metres frontage currently operating as an IGA X-press supermarket and liquor store, and a 185 square metre basement area with separate access providing the potential for future alternate uses or split tenancies.

The property is located less than 500 metres from the Melbourne CBD and within the heart of the Melbourne and RMIT University precinct servicing a large population of students, residents, tourists and workers.

According to marketing agents, Teska Carson’s Stephen Speck and Adrian Boutsakis, the property will be sold subject to a five year lease, with three further five year options, to Ardhin Trading at a current rental of $220,000 per annum with 4 per cent annual reviews.

Mr Speck said the property represented an exceptional opportunity for investors to acquire a securely leased asset in a prized, tightly held, location.

“This property presents as an attractive investment opportunity with a high profile tenant, on a secure lease with options, in a first rate location and with the potential to enhance returns through maximizing the use of the basement area.”

“It is an investment opportunity that warrants close examination for serious investors looking to bolster their portfolios with an inner city asset,’’ Mr Speck said.

Mr Boutsakis said the property offered a number of outstanding investment attributes including:

• The location in one of Melbourne’s most popular and best known retail precincts;
• The location within a tightly held market;
• An outstanding business catchment precinct;
• The secure lease to a high profile tenant;
• Potential to enhance returns through maximisation of underutilised basement area; and,
• The close proximity to the CBD, Melbourne University, and a variety of entertainment and transport options.

“This is the epitome of Melbourne’s best and most vibrant restaurant precincts and one which attracts diners from all over Melbourne including a local population with a strong dine-out culture.

“Properties of this calibre and versatility in this location are highly sought after by tenants and investors alike.

“As such they are tightly held, come up rarely and, with such a secure lease profile, present as an ideal passive investment. For those reasons we expect a high level of enquiry,’’ Mr Boutsakis said.

To request a copy of the Information Memorandum please contact one of the marketing agents via the contact form below.