281 Spring Street, Reservoir

LOVE & CO are delighted to present 281 Spring Street, Reservoir - a substantial mixed-use investment offering a rare combination of secure commercial income, residential rental income and a prominent central location.

Positioned within a well-established and highly active part of Reservoir, this property enjoys excellent exposure and convenient access to the bustling Edwardes Street shopping precinct, public transport and a wide range of essential amenities.

With a long-term commercial lease in place, complemented by a separately leased two-bedroom residence, this is an outstanding opportunity for investors seeking a diversified income-producing asset in a tightly held Melbourne northern suburb location.

PROPERTY HIGHLIGHTS
* Offers Over $1,065,000 *

* CURRENT RENTAL INCOME: $68,300 PA + GST
GROUND FLOOR: $46,300 PA + OUTGOINGS + GST
FIRST FLOOR RESIDENTIAL: $22,000 PA
* Approximately 180sqm ground-floor commercial premises
* Approximately 80sqm first-floor two-bedroom apartment
* 4 years 8 months remaining on current commercial lease
* Two further 5-year options
* Annual 3% rental increases
* Market reviews scheduled for November 2030 and November 2035
* Separately leased first-floor residential apartment
* Newly refurbished two-bedroom residence
* Separate residential entry
* NEW roof - electrical upgrade.
* Ample public parking to the rear
* Prominent, high-exposure position
* Convenient access to bus and train services
* Close to Edwardes Street shopping and major supermarkets
* Surrounded by medical, pharmacy, banking, legal and community services

INSPECTIONS: By Appointment

CONTACT AGENT: BRANKO AGATANOVIC 0448 035 565