145 Nicholson Street, Footscray, VIC, 3011

For sale via Expressions of Interest closing 5th of December 2024 at 12.00PM

The next Open for Inspection is Friday 22nd November at 2.30pm - 3.00pm. Please contact agent to register your attendance.

POINT OF INTEREST:

Situated in the heart of Footscray, this mixed-use freehold property is for those who have an appetite for lucrative decisions. Returning a high yield of 6.5+%, the 200 sqm* building is split into a 120 sqm* retail space with all the trimmings of an office and a separated upstairs large 2-bedroom apartment over 82 sqm* — both are happily leased and returning a combined $48,771 + GST per annum. 

Downstairs Lease Information:

Tenant: Sabban Accountants & Business Consulants Pty Ltd

Income: $31,827 pa net (February 2025)

Lease Terms: 5 + 5 + 5 years

Commencement: 1st February 2023

Tenant pays 100% of entire building outgoings (not including land tax)

First Floor Lease Information:

Tenant: Residential tenant

Income: $16,944 per annum ($325 per week)

Lease Term: Monthly

Rental increase is due

From the outside, the building has street appeal aplenty, with a heritage-looking facade, street frontage and signage opportunities. Within a five-minute walking radius, you’ve got everything that makes Footscray a thriving ecosystem: from multicultural eateries to Broadsheet-acclaimed wine bars, the Footscray Market and a well-connected public transport system that takes you into the CBD in just two stops. Travel by car and you’re just 6.8 km* from the city, with your pick of Footscray Road, Dynon Road or Princes Highway to get you there. 

Above all, it’s the suburb’s growth trajectory that makes this investment so enticing. Where most of inner-city Melbourne has seen steep price growth over the last ten years, Footscray now is the place to be at the right time, for the right price so you can sit back and watch as the curve keep trending upwards. 

- Total building area: 200 sqm*

- High yielding investment: 6.5+% 

- 120 sqm* ground floor retail. 

- 82 sqm* large two-bedroom apartment above. 

- $48,771 + GST in combined annual leasing income.

- Activity centre zoning prime for high density development (STCA)

- 130 m* from Footscray Railway Station.

- 6.8 km* from Melbourne CBD

POINT OF VIEW:

Footscray has a distinct flavour — and on Nicholson Street, it tastes like bustling commercial activity dished up with all the high yield-trimmings. 

*Approx.

Pricing excludes GST

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