45 Foot Street

Frankston VIC 3199

This opportunity is well worth your consideration. Ideally positioned in the heart of the highly sought-after Frankston High School zone, Foot Street's tightly held strip of shops is recognised as one of the most established and busiest neighbourhood retail precincts within the City of Frankston. Surrounded by a strong and diverse mix of long-standing local businesses including cafs, a fruiterer, bakery, pharmacy, newsagency/lotto and popular takeaway outlets, this property sits at the centre of consistent foot traffic and community activity.45 Foot Street is home to Foot Street Cellars and Supermarket, occupied by the same successful tenant for over 10 years. The tenant has recently committed to a brand-new five-year lease commencing September 2023, with two further five-year options, reinforcing the strength and stability of this premium retail investment. Securely positioned within one of the Mornington Peninsula's most tightly held commercial precincts, this is a rare opportunity for the astute investor to capitalise on both immediate income and long-term capital growth in a blue-chip location.Key Features:-Rent of $75,119 per annum (inc GST)-Circa 5.5% return on investment-Annual rent increases of 2.5%-Brand new 5-year lease from September 2023-Two further 5-year lease options-Sizeable security deposit paid-Commercial 1 Zone-Building area: 180sqm*-Land area: 188sqm*-Impressive 6.2m shop frontage with strong street appeal-Favourable mixed-use zoning with potential value-add (STCA)-Angle parking directly in front on Foot Street-Rear access via ROWThis propoerty presents an exceptional opportunity to secure a high-performing freehold asset in a premium location, offering reliable income today with outstanding potential for future growth. Contact Kayn Luff for more information