Springvale 8/308-310 Springvale Road

Part of a group of shops at the corner of Springvale Road and St James Ave, that gain additional benefit from being next door to Woolworths Springvale and associated with a large public carpark at the rear.
Shop 8 has approximately 93m2 of floor space, features full height glazing, access doors front and rear, and individual air-conditioning. A smaller paid parking area for 32 vehicles is directly behind the shop.
Currently tenanted for over one year of a three year lease the new investor has an immediate return on their investment with the current rent increased to $37,440pa with annual increases of 5% scheduled on the lease anniversary date. (01/07/2026)

To find out more this investment opportunity please contact Theresa Huynh on 0450 551 959

Tenant: Lady Lux De Beaute P/L
Permitted Use: Hair & Beauty Services
Lease overview
Start date: 01/07/2024 for a term of 3 years
Annual rental: $36,000 plus GST
Tenant pays all (100%) outgoings and hold appropriate insurance cover
Review date: 01/07/2025 percentage increase fixed at 4%
Review date: 01/07/2026 percentage increase fixed at 5%
Two further terms of three (3) years are available to the lease holder
Annual Review date is 01/07 of each subsequent year (2027 -2032) with a percentage increase fixed at 5%

Estimated Fees and charges as of 01/07/2024
Owners Corporation: $2,792.00
Council Rates $3,951.00
Southeast Water $1,000.00 usage dependant
Essential Safety $300.00
Fire equipment service $60.00

Property Information

• Floor area approx 93sqm