Located in the tightly held main street of Yarrawonga, at the Lake Mulwala end of Belmore Street, 23-25 Belmore St is a multi-faceted income stream and commercial opportunity beckoning for the astute investor.
Comprising of four separate commercial tenancies covering retail, professional services, and food/hospitality, as well as two self-contained apartments currently leased through Airbnb and booking.com as short-stay accommodation, this is a solid investment opportunity with room to grow. The Commercial leases return an approximate combined income of $87,589.84 per annum, while the "Apartments on Belmore" averaged $102,500 per annum across the 21/22 & 22/23 financial years.
The updated commercial buildings are in very good condition, occupied by strong tenancies with Elders Insurance, Abode Living, and Ali Baba Kebabs, all enjoying this main street location. Housemade Food & Coffee is accessed via the main street entrance alley to the bespoke rear courtyard, servicing those looking for a bite on the run or those ready to enjoy the quiet garden setting. While the commercial tenancies are effectively "set and forget", the Apartments on Belmore provide flexibility with the potential to increase occupancy through further marketing.
Their proximity to the hub of Yarrawonga, providing secure onsite parking with an additional and easily accessible public car park, all while being a short 200m stroll to the Lake Mulwala foreshore, will ensure that these apartments are always high on the wish list of holidaymakers. Maybe you've thought of retiring to the area and can live in one of the apartments, with your income assured via the balance of the portfolio. The possibilities are endless.
