Hospitality - Cafe
66–68 Breese Street, Brunswick presents an outstanding opportunity to acquire a securely leased hospitality investment within one of Melbourne's most active and rapidly evolving inner-city precincts.
Positioned on the ground floor of a modern mixed-use development delivered by Milieu Property, the property occupies a prominent corner location just metres from Anstey Railway Station and the vibrant Sydney Road retail and hospitality strip. The surrounding area continues to benefit from significant residential growth, with numerous apartment developments recently completed, under construction, or proposed nearby.
Leased to the well-established and popular Neruda's Brunswick café, the property provides investors with a secure income stream underpinned by a long-term lease and fixed annual rental growth.
The property features a substantial corner hospitality tenancy of approximately 201 sqm together with four on-title car spaces and storage, further enhancing its appeal to both investors and occupiers.
Key investment highlights include:
• Securely leased to Neruda's Brunswick, an established local hospitality operator
• Large corner hospitality premises of approximately 201 sqm*
• Current net rental of $91,077.57 per annum plus GST and outgoings
• 10 + 5 + 5 year lease commencing April 2021
• Fixed 3% annual rental increases
• Tenant responsible for all recoverable outgoings
• Four (4) on-title car spaces plus storage
• Significant tenant fit-out investment supporting long-term occupation
• Bank guarantee held equivalent to approximately four months' rent plus GST
• Prominent corner position approximately 50 metres* from Anstey Railway Station
• Located beneath 59 apartments within a modern mixed-use development
• Surrounded by extensive residential development and population growth
This is an exceptional opportunity to secure a well-located Brunswick investment with proven tenant commitment, strong rental growth and long-term income security.