Investment Opportunity … 67-73 Hardware Lane, Melb

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Hardware-Lane

THIS TROPHY BUILDING is being offered for Sale by Tender — closing at 3 pm on Wednesday, 10 December 2014 (AEDT).

The magic of Melbourne’s cafe culture within its streets and laneways is well known throughout the world. And nowhere captures this cosmopolitan mix of food and buildings … quite like Hardware Lane.

However, this property probably gives you the best combination: A stunning building, with a good spread of top-quality tenants — to help generate a good return on your investment.

About nine years ago, the building was totally refurbished — new lift, air-conditioning, the lot — even down to replacing the original timber floors.

The tenancy profile is what’s most impressive, with each lease having its own separate title — providing you with 8 titles in all.

The upper-ground and lower-ground floors are let (on a new 10-year lease from September this year) to David James … who also runs the successful James Squire Hotel in Docklands.

On the upper levels, there is a combination of whole and part-floor tenancies. PLUS there is also the possibility to add a couple of 2-story penthouses, in the air-space available above the building.

Hardware-VidThe passing net rental is $428,259 per annum … with the opportunity to increase that, as from January next year.

You can watch a short Video to discover more details.

The property is being offered for sale by Knight Frank in conjunction with Property Edge Australia — with Tenders closing at 3 pm on Wednesday 10 December (AEDT).

Bottom Line: This building is a classic Hardware Lane freehold. Originally constructed in 1889, the building underwent a complete refurbishment less than 10 years ago.

Hardware Lane is simply one of the best examples of Melbourne’s Cafe culture. Plus, it’s probably the most recognised laneway within Australia.

Chris Lang

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