 Asset Class: | Retail |
 Price: | $ 1200000 |
 Net Yield: | 5.80 % |
Net Yield - including solar strategy: | % |
 Property Market Status: | On Market |
<p class="mb-4">An affordable entry-level investment positioned on a prominent retail corner within a thriving mixed-use precinct. The property spans approximately 170 m² and offers a secure income stream underpinned by a long 10 year lease to a reputable hospitality operator. Situated within the newly completed Pace 3058 development, it benefits from a high-growth location with strong tenant demand and significant surrounding infrastructure investment.</p><p class="mb-4"></p><p class="mb-4">The property occupies a high-exposure corner with dual street frontage, high ceilings, and generous natural light. It sits at the base of a newly completed 14-storey building featuring 311 apartments, enhancing both daily foot traffic and depreciation benefits. The retail space is well-appointed and modern, aligning with its premium hospitality use.</p><p class="mb-4"></p><p class="mb-4">The asset delivers a net income of $69,325 per annum, equating to a 5.8% net yield. The asset is underpinned by a 10-year net lease with fixed annual increases. The reputable tenant and low maintenance requirements, along with a significant 6 month security guarantee - provides a robust income profile with excellent set-and-forget characteristics.</p><p class="mb-4"> </p><p class="mb-4">The property is fully leased to Noi Pizzeria, a high-performing operator with multiple sites across Victoria. Known for its consistent performance and 4.8-star online reviews, the tenant is on a brand new 10-year lease with further options extending to 2044, ensuring strong lease covenant and income certainty.</p><p class="mb-4"> </p><p class="mb-4">Located in Coburg, just one block from Sydney Road and approximately 300 m from the $1.2 billion Pentridge Village redevelopment, the asset benefits from strong economic activity and urban regeneration. Its strategic position within a vibrant and growing community makes it highly attractive to both tenants and investors.</p>
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<p>Coburg is a thriving inner-northern suburb of Melbourne experiencing significant urban renewal and gentrification. The property benefits from <strong>excellent connectivity</strong> with Coburg Train Station nearby providing direct access to Melbourne's CBD.</p> <p>The location offers <strong>exceptional amenity</strong> with immediate proximity to the bustling Sydney Road retail and dining precinct, known for its vibrant multicultural atmosphere and diverse shopping experiences.</p> <p>The site sits strategically positioned just 300 metres from the <strong>$1.2 billion Pentridge Village redevelopment</strong>, a transformative project converting the historic Pentridge Prison into a premium residential, retail and entertainment precinct that is dramatically elevating the area's profile and property values.</p>
Additional Location Information File<p class="mb-4"><strong>Noi Pizzeria</strong> represents an ideal covenant for this retail investment:</p><ul class="bullet-list"><li><p class="mb-4">Established and proven hospitality operator with multiple locations across Victoria</p></li><li><p class="mb-4">Opened its first location at 60 High Street, Preston, on June 30, 2020. They expanded to Pentridge Blvd, Coburg, in late 2024. As of April 2025, the operator has been in business for nearly five years.</p></li><li><p class="mb-4">Recognised culinary excellence with inclusion among the Top 10 Pizzerias by The AGE and Australian Good Food Guide</p></li><li><p class="mb-4">Impressive 4.8-star online rating demonstrating strong customer satisfaction and business performance</p></li><li><p class="mb-4">Commitment demonstrated through substantial capital investment in custom fit-out</p></li><li><p class="mb-4">Long-term security with a fresh 10-year lease plus options extending to 2044</p></li></ul>
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<p>This investment presents compelling financial fundamentals:</p> <ul> <li><strong>Net Annual Income:</strong> $69,325 per annum</li> <li><strong>Net Yield:</strong> 5.8%</li> <li><strong>Lease Structure:</strong> 10-year net lease with the tenant responsible for outgoings</li> <li><strong>Rental Growth:</strong> Secured through fixed annual increases</li> <li><strong>Tax Benefits:</strong> Significant depreciation advantages available due to brand new construction completed in 2024</li> <li><strong>Capital Growth Potential:</strong> Enhanced by proximity to major infrastructure developments and urban renewal projects</li> </ul>
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<p class="mb-4"><strong>18B Pentridge Boulevard, Coburg – 170m2 - $425/m2</strong></p><p class="mb-4">14A Gilbert Road, Preston – 56m2 - $444/sqm</p><p class="mb-4">GF/112 Bell Street, Coburg – 50m2 - $460/sqm</p><p class="mb-4">179 Weston Street, Brunswick East – 192m2 – $392/sqm</p><p class="mb-4">209a Sydney Road, Brunswick – 109m2 - $366/sqm (older building)</p>
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<ul class="bullet-list"><li><p class="mb-4">Brand new ground floor retail space with premium hospitality fit-out in a just-completed development</p></li><li><p class="mb-4">Prominent corner position with exceptional exposure and dual street frontage</p></li><li><p class="mb-4">Generous 170sqm floorplate featuring high ceilings and abundant natural light</p></li><li><p class="mb-4">Secure 10-year net lease to acclaimed Noi Pizzeria with options until 2044</p></li><li><p class="mb-4">Returning $69,325 p.a. representing a net return of 5.8%</p></li><li><p class="mb-4">Significant tax advantages through depreciation benefits, further enhancing the above return after tax deductions</p></li><li><p class="mb-4">Recognised among the Top 10 Pizzerias by The AGE and the Australian Good Food Guide</p></li><li><p class="mb-4">Security of 6 months rent plus outgoings provides strong reassurance</p></li><li><p class="mb-4">Strategic location just metres from Sydney Road's retail hub</p></li><li><p class="mb-4">Metres away from the thriving Sydney Road core retail precinct and the $1.2 billion Pentridge Village redevelopment.</p></li><li><p class="mb-4">Situated at the base of a new 311-apartment mixed-use development</p></li><li><p class="mb-4">Excellent accessibility with proximity to Coburg Station and public transport</p></li></ul>
