Situated in the well established Kingston Foreshore, Kingsborough is close to the action but in a world of its own bound by Dawes St, Parberry St, Cunningham Street and The Causeway,

Shophouse 5 in Kingsborough faces onto the popular Kingsborough Village Square. This mixed use unit has a great cafe space facing the centre of the village square plus a 2 bedroom apartment above it and a private garage at the rear. The property also has an outdoor space off the front of the tenancy integrating into the village square. The first floor apartment has private balconies front and back.

The whole property (cafe and apartment) are leased to one tenant. They operate the cafe under the well known banner of Eighty/Twenty Food - https://www.eightytwentyfood.com.au

Their lease term expires in August 2026 with options to extend.

The property is being sold as a residential property which will incur Stamp Duty on the purchase price. The property incurs rates and land tax liabilities consistent with a residential property.

The passing gross rental income from 17 August 2022 will be $53,300 pa (NO GST charged on residential properties).

The forecasted outgoings recovery is $2,951 pa

Total forecasted income (gross rent + outgoings recovery) from the tenant is $56,251 pa

Less total outgoings of $10,756.63

The approximate passing net rental (after paying outgoings) is $45,495pa

Kingsborough village is an emerging community precinct in eclectic Kingston. It’s inspired by the modern lifestyles of the people who live and work there and the area’s unique history.

Other commercial business at Kingsborough can be viewed via https://kingsborough.com.au/commercial/

Call Alex Smith today to make a time to see the village and this investment opportunity.

All inspections must be booked in advance. Inspections can be done between 10:00am and 12:00pm Wednesday's and Thursdays each week.