A landmark Bayside investment opportunity has just become available with the upcoming auction of 105-107 Carpenter Street, Brighton on Wednesday 18th May at 12:30pm.
This charming property with historical facade comprises three, two-level buildings and is home to 12 offices over ground and first floor combinations.
Fully tenanted on varying lease terms, the property features a total office lettable area of 647sqm* and delivers an exceptional income stream of $231,720 per annum.
According to Nichols Crowder selling agent, Julian Vautin, âSome properties have a âfeel goodâ vibe as soon as you see it, and it gets better as you walk in. Its history of prosperity and growth over generations is evident, and yet I can see so much upside in the future.â
Founded by James Maskell in 1889, 105-107 Carpenter Street ran as a home and location for the plumbing business for generations. After considerable expansion and adaptation, it is now a popular local business hub attracting quality professional service businesses.
Located a short distance from both Church and Bay Street strips which feature excellent retail including popular eateries/cafĂ©âs and train stations, set amongst the perfect Bayside lifestyle.
According to Stonebridge selling agent Rorey James, âthis iconic Brighton investment has an impressive income stream and yet there is the opportunity to increase some rentals or even to part owner occupyâ, explains Rorey James, selling agent, Stonebridge Property Group.
First time offered in 35 years, the property is zoned General Residential 2 on land of 677sqm*. Its 16.7metre frontage and rear lane access, add further to its impressive fundamentals offering flexibility and upside. The listing follows the recent sale of 71-73 Church Street & 36 Carpenter Street, Brighton, which sold for $16.2m, reflecting a strong land rate of $17,363 per sqm.
The property is being sold by conjunctional agents Nichols Crowder and Stonebridge as appointed by Mark Wizel of Advise Transact.
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