Offered for sale for the first time in 40 years, this magnificent property is located in the heart of Bendigo's thriving CBD. Bendigo currently has a population of some 110,000, a figure which is projected to increase to approximately 135,000 by the mid 2030's. This increase should ensure the continued viability of Bendigo as one of Victoria's premier cities for future generations, with further economic and residential growth sure to sustain the fantastic outlook for this progressive modern city.
This sensational property comprises 5 very valuable titles. One lot is freestanding with a land area of approx. 437M2 and which is used as carparking for the tenants of the major holding.
The main portion of 4 titles has substantial frontage to both Hargreaves and Queen Streets and comprises a land area of some 3,211Mt with a substantial building area of approx. 2,500M2 with 7 different tenancies. Two of the tenants have been in their current locations since the mid 1980s and have no current plans to relocate, whilst most of the other tenancies have also been in residency for periods of between 10 and 6 years. There is one vacant area of approx. 200M2 which is currently available for lease at $42,672-00pa plus GST and outgoings.
The current overall rental income (excluding the vacant shop) is $478,944-00pa plus GST and outgoings.
This is a once in a lifetime chance to purchase one of the most substantial holdings in the CBD of Bendigo, and it also offers massive potential for further major re-development with the possibility of adding additional levels for inner city residential use(stca). This offers a magnificent opportunity to purchase a low risk investment where there is not a reliance on a single tenancy, in a thriving regional city within easy driving distance of Melbourne and most of Victorias main attractions.