 Asset Class: | Retail |
 Price: | $ 333333 |
 Net Yield: | 3.00 % |
Net Yield - including solar strategy: | % |
 Property Market Status: | On Market |
<p>Presenting an exceptional entry-level retail investment opportunity at 18B Pentridge Boulevard, Coburg. This prime retail corner spans 170sqm with impressive dual street frontage, positioned at the base of the newly completed 'Pace 3058' development – a 14-storey mixed-use project featuring 311 residential apartments.</p> <p>Secured by a brand new 10-year lease to the highly regarded Noi Pizzeria, this investment offers reliable income of $72,250 + GST annually with fixed increases, providing exceptional tenant security through to 2034 with further options.</p> <p>The property boasts an expansive corner position with high ceilings and abundant natural light throughout. Noi Pizzeria brings impressive credentials as a proven hospitality operator with multiple Victorian locations and a stellar 4.8-star online rating, previously recognised among the Top 10 Pizzerias by The AGE and the Australian Good Food Guide.</p> <p>Strategically located just one block from the thriving Sydney Road retail precinct and approximately 300 metres from the $1.2 billion Pentridge Village redevelopment, this investment benefits from strong local catchment growth and significant infrastructure investment in the area.</p> <p>Completed in 2024, this brand new premises offers substantial depreciation benefits within a genuine 'set-and-forget' investment structure that requires minimal management oversight while delivering reliable returns.</p>
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<p>Coburg is a thriving inner-northern suburb of Melbourne, located just 8km from the CBD with excellent connectivity via multiple transport options including <strong>Coburg Station</strong> in close proximity to the property.</p> <p>The area is undergoing significant transformation through the <strong>$1.2 billion Pentridge Village redevelopment</strong>, which is revitalising the historic Pentridge Prison into a vibrant mixed-use precinct with residential, retail, and entertainment offerings.</p> <p>Sydney Road, just one block away, represents one of Melbourne's most authentic and vibrant retail strips, providing a diverse mix of cafes, restaurants, specialty retailers and essential services.</p> <p>The immediate area benefits from strong population growth driven by ongoing residential development, including the 311 apartments in the Pace 3058 building where this retail opportunity is situated.</p>
Additional Location Information File<p><strong>Noi Pizzeria</strong> represents an ideal hospitality tenant with strong credentials including:</p> <ul> <li>Multiple established locations across Victoria</li> <li>Excellent 4.8-star online rating</li> <li>Previous recognition among the Top 10 Pizzerias by The AGE and Australian Good Food Guide</li> <li>Committed to a 10-year lease with options extending to 2034</li> <li>Proven hospitality operator with established business model</li> </ul> <p>The tenant has invested significantly in a high-quality fitout appropriate for a premium pizzeria operation, demonstrating their long-term commitment to the location.</p>
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<p>This investment offers a secure income stream with a <strong>brand new 10-year net lease</strong> generating <strong>$72,250 + GST annually</strong> with fixed increases built into the agreement.</p> <p>The advertised price point of <strong>$1.3 million</strong> indicates an approximate yield of 5.55%, representing strong value for a brand new retail asset with long-term tenant security.</p> <p>As a net lease structure, outgoings are paid by the tenant, simplifying the investment and minimizing unexpected expenses for the landlord.</p> <p>The 2024 construction date provides substantial <strong>depreciation benefits</strong> that will enhance the after-tax return for investors.</p>
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<ul> <li>Prime corner retail position with expansive 170sqm floorplan featuring dual street frontage</li> <li>Brand new 10-year net lease to established hospitality operator with options extending to 2034</li> <li>Reliable annual income of $72,250 + GST with fixed annual increases</li> <li>Tenant is a highly-rated pizzeria with 4.8-star online reviews and recognition from top food guides</li> <li>Located at the base of a brand new 14-storey mixed-use development with 311 apartments</li> <li>Significant depreciation benefits from 2024 construction</li> <li>Just one block from Sydney Road's bustling retail precinct</li> <li>300 metres from the $1.2 billion Pentridge Village redevelopment</li> <li>High-exposure corner position with excellent natural light and high ceilings</li> <li>True 'set-and-forget' investment requiring minimal management</li> </ul>
