57&57A Semaphore Road, SEMAPHORE

SEMAPHORE RETAIL GEM!

First time for sale in over 70 years.

Opportunity now exists for an astute investor to secure a landmark property, established as a mixed-use investment on the corner of Military and Semaphore Roads Semaphore.

THE Commercial Agency in conjunction with Harcourts Smith, are delighted to present to the market 57 & 57A Semaphore Road, Semaphore.

Located in the heart of Semaphore’s High Street, this property is well suited to investors

looking to secure a piece of Semaphore history, whilst offering

secure returns with scope to add father value.

The property features 2 prominent ground floor shops leased to Century 21 real estate and Vinnies. Both are long standing tenants, Vinnies having occupied their tenancy for over 35 years and Century 21 having been a real estate office for over 38 years.

To the rear, and on the the upper level there are 2 spacious apartments. One two-bedrooms and the other three bedrooms.

There is also plenty of car parking out the rear for up to 10 car parks.

Key investment features include:

• Commanding corner site of approximately 872m2 with 3 street frontages

• Zoned “Suburban Activity Centre”

• Offered as a fully leased investment with a passing net income of approximately $130,000 per annum.

• Potential for further development (subject to all necessary consents).

THE Commercial Agency’s Con Kavooris said “This is truly a Once in a lifetime opportunity to acquire a prized generational asset, that has been in the family for over 70 years. Now is the time to take over the baton”.

“I would encourage all those that are considering this property to look closely into 3 things; the current apartments rentals, the current ground floor rentals and importantly any further devolvement potential utilising the carparking area at the back.”

The property is offered for Sale via Public Auction on

Saturday 11th February at 1:00pm (unless sold prior)