High Exposure Highway Frontage Corner Site

This rare dual access corner property is located mid-way between the Warrnambool CBD and the Gateway Plaza Retail precinct at the east end of Raglan Parade and an excellent opportunity in the ever-growing regional city of Warrnambool to secure your future.<br/><br/>Fondly known as the Derby Street Milk Bar, this property is being offered for sale for the first time in 33 years.<br/>Continuously tenanted throughout this time, the property is ideal for the astute investor, or plan to develop STCA or landbank for future use.<br/><br/><br/>Key property information<br/><br/>• Stand alone corner site of 744 sqm *<br/><br/>• Retail building of 90 sqm * including shopfront, coolroom, staff amenities<br/>• Residence - three bedrooms, kitchen, lounge, bathroom and laundry<br/>• Dual access from Princes Highway/Raglan Parade and Derby Street<br/>• Combined frontage and exposure of 78 meters * with 20,000 * vehicles passing daily<br/>• Tandem garage and rear yard - opportunity to value add (STCA)<br/><br/>• Tenant – Asian Grocer<br/>• Annual net income of $33,146.00 pa plus GST with annual CPI increases<br/><br/>• Tenant pays usual outgoings<br/>• Lease ending 22 January 2024<br/><br/><br/>Price information<br/><br/>For Sale by Expression of Interest closing 3pm Friday 26 August 2022<br/><br/><br/>Warrnambool is a premier south west coastal city with a population of 37,000 and linking to a service area of 110,000 from Colac, Camperdown, Port Fairy, Portland, Hamilton, Mortlake and surrounding towns.<br/>With a significant expected population growth to $46,210 by 2036, this is a rare chance to purchase a corner site on the Princes Highway with potential for further development.<br/><br/><br/>* approximate<br/><br/>Inspection by appointment only, please contact selling agent Christine Steere 0409906223