Ray White Commercial (QLD) are pleased to exclusively offer 25 Caxton Street, Petrie Terrace QLD for sale by Auction on Friday 14 December 2018, 10:15am at Level 26, 111 Eagle Street, Brisbane City QLD.
This is a rare opportunity to acquire a high street freestanding retail investment that has been 100% tenanted for over 30 years.
Previously tenanted by the award winning Rags Garden Restaurant, this property offers a rich history and is now tenanted by Enzo & Sons, the latest brainchild of the highly experienced restaurateurs Jamie and Siarah Webb.
Jamie & Siarah have a proven track record including the famous Lefty's Old Time Music Hall (15 Caxton Street) and Seymour's Cocktails and Oysters (19 Caxton Street).
Key Investment Attributes:
• 5 year net lease to 31 August 2022 + options to 2032
• 296sqm** building area comprising 120 seat restaurant/bar and first floor self contained apartment
• Expansive 99sqm** undercover beer garden with bar/pizza oven
• Dominant 350sqm* land parcel with exposure to over 17,200 cars passing daily^
• 200m* to Suncorp Stadium and 500m* to $5 billion Cross River Rail and $2 billion Brisbane Live developments
• Affluent precinct with household income levels 34% above the QLD average^^
• Fixed 3.5% annual increases underpinned by a 3 month bank guarantee
• Net income of $90,540* + GST p.a.
**Estimate only based on building plans
For more details, please email agent