Teska Carson is pleased to offer 479 High Street, Prahran to the market, presenting a rare opportunity to acquire a quality retail investment in a highly sought-after location with excellent tenant credentials.Property Highlights:-Income: $65,596 per annum + GST & Outgoings-Land Area: 160sqm*-Build Area: 200sqm*-Commercial 1 Zone (C1Z)-Two level freehold benefitting from separate first floor, two bedroom residence and on site car parking for two carsLease Details:- Tenant: Blondes to Brunettes In occupation for over 20 years- Rental: $65,596 per annum + GST + Outgoings- Term: Three (3) years- Commencement Date: 1 June 2024- Further Term: Three (3) years- Annual CPI rent reviews- Outgoings paid by tenantLocation:Well positioned in a highly sought-after retail strip, surrounded by well-known retailers and hospitality establishments.For Sale by Public Auction on Friday 16 August 2024 at 12pm on-site.Please call for further information to to arrange an inspection.*approx.
The size of Prahran is approximately 1.9 square kilometres. It has 8 parks covering nearly 6.3% of total area. The population of Prahran in 2011 was 11,191 people. By 2016 the population was 12,985 showing a population growth of 16.0% in the area during that time. The predominant age group in Prahran is 20-29 years. Households in Prahran are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Prahran work in a professional occupation. In 2011, 42.7% of the homes in Prahran were owner-occupied compared with 39.3% in 2016.
Prahran has 10,643 properties. Over the last 5 years, Houses in Prahran have seen a 12.42% increase in median value, while Units have seen a 7.00% increase. As at 31 August 2024:
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