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297 Victoria Street 3,875 SF Retail Building Abbotsford, VIC 3067 For Sale
Investment Highlights
- Positioned in Melbourne’s premier multicultural dining destination and high-density residential catchment.
- Fully leased to a proven hospitality tenant (TungThit) with exceptional local brand equity.
- Supported by excellent public transport, arterial connectivity, and a gentrifying locality benefiting from ongoing commercial and apartment developmen
Executive Summary
297 Victoria Street represents a trophy corner freehold investment in the vibrant heart of Abbotsford, providing investors with an opportunity to secure long-term income from a premier hospitality tenant in an iconic Melbourne dining precinct. Occupying a 243 m² landholding with a generous floor area of approx. 360 m² across a dual-frontage site, this property delivers unparalleled exposure to Victoria Street and Charles Street, a corridor renowned for its cultural vibrancy and strong foot traffic.
The property is leased to TungThit, a highly regarded and well-established operator known for its loyal customer base, exceptional reputation, and consistent trading performance. The tenancy is secured under a long-term lease of 8 years (commencing Feb 2021) with two 5-year options, complemented by fixed annual rental increases of 3%, ensuring predictable income growth and asset stability for investors.
With over 42 metres of combined street frontage, strong rental covenant, and positioning within a tightly held commercial strip experiencing unprecedented demand, this property is perfectly aligned with premium-grade investment profiles emphasizing certainty, location, and future capital gain potential.
The property is leased to TungThit, a highly regarded and well-established operator known for its loyal customer base, exceptional reputation, and consistent trading performance. The tenancy is secured under a long-term lease of 8 years (commencing Feb 2021) with two 5-year options, complemented by fixed annual rental increases of 3%, ensuring predictable income growth and asset stability for investors.
With over 42 metres of combined street frontage, strong rental covenant, and positioning within a tightly held commercial strip experiencing unprecedented demand, this property is perfectly aligned with premium-grade investment profiles emphasizing certainty, location, and future capital gain potential.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
3,875 SF
Building Class
C
NOI
$148,225 CAD
Tenancy
Single
Building Height
2 Stories
Building FAR
1.48
Lot Size
0.06 AC
Frontage
Amenities
- Restaurant
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Nearby Major Retailers
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297 Victoria Street
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