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News release


Iconic Degraves Street investment opportunity

Fully leased retail asset for sale on Melbourne's busiest laneway

A rare opportunity to secure a piece of Melbourne’s most iconic laneway is expected to spark strong investor appetite when 16 Degraves Street hits the market.

In the first on-market campaign Degraves Street has seen since February 2011, Stuart Taylor and Mathew George of Jones Lang LaSalle are offering the property for sale via auction on Thursday 3rd April, 2014 on behalf of Ferrier Hodgson as Agents for the Mortgagee.

Located on Melbourne’s busiest laneway, in the heart of the CBD shopping precinct, the licenced café/bar is currently leased to Il Tempo on a new five (5) year term with three (3) further five (5) year options. The property returns a current income of $155,000 per annum plus GST with fixed annual increases of 4%.

Mr Taylor said, “Degraves Street currently has zero vacancies and is one of Melbourne’s pre-eminent retailing positions for the food and beverage industry, providing great security for the successful purchaser of the asset.”

Mr George said, “Given this is the first on-market investment opportunity since 2011 in such a rare and iconic location, we have every confidence that 16 Degraves Street will be well received by the investor market, and generate very strong competition at auction.”