Lonestar, 484 George Street, City Centre Dunedin, Dunedin City, Otago

Sold

ICONIC TENANT - MODERN INVESTMENT OPPORTUNITY

484 George Street represents an opportunity to purchase an excellent food and beverage establishment leased to a well known and iconic tenant in the Central Dunedin CBD.

The property sits in an excellent position being situated on George Street and in close proximity to the corner of George and Albany Street's. The property is surrounded by well known and established tenants including Buster Greens, Subway, Joe's Garage, Albany Street pharmacy, Allpress, and in close proximity to the Hospital, the University of Otago and the Dental School. The property poses a unique opportunity to purchase a prominent property in the tightly held Central Dunedin area.

The property is leased to PSVC Limited t/a Lonestar with an annual rental of $290,000pa plus GST and outgoings, on a lease with a 10 year term (from 1-Mar-2013) followed by two further rights of renewal of 5 years (final expiry date of 28-Feb-2033).

The property is a modern building constructed in 2012 and located in an area popular with students close to the University and Campus.

The property is underpinned by a freehold land holding of 1,012m2 (more or less), with a modern building/improvements built on site.

For Sale by Deadline Private Treaty closing Thursday 8th April 2021 at 4pm (unless sold prior).

Contact the nominated broker for more information.

Property Details

Location Lonestar, 484 George Street, City Centre Dunedin, Dunedin City, Otago