Executive Summary
The subject property is located in an industrial area of the Eastern suburb of Melbourne. The land has 2 street frontages and has an area of 290 square metres approximately. Erected on the land is a council approved, purpose built bordello with car parking leased, laundry and storage rooms, girls room, intro room, lounge, reception, office with 6 rooms located on ground and 1st floor.
The building is well appointed with rooms generous in proportions. Each room is equipped with good quality furnishings, ensuite toilet and shower, and 1 room with spa bath. Mood lighting, air conditioning, music? and DVD is reticulated throughout. The premises are considered to represent the highest quality of such property in Victoria.
Lease Terms: - The main points of the Lease are summarised as follows –
Lessee- Present tenant
Commencement-: Upon Settlement.
Initial Term-: 5 years
Option Periods-: Five further terms of 5 years.
Termination (with options) 30 Years.
Rental-: $275,000.00 per annum plus GST
Rental Reviews –: Annually to 3%
Permitted Use – Bordello 6 Rooms
Outgoings – Lessee pays all statutory and operating costs
Maintenance – Lessee to maintain building and equipment except for structural
Security Deposit –: One month’s rent
Asking Price – $2,750,000.00
The tenant will be the current owner of the business who has run this establishment for the last ten years, creating one of the most renowned Bordellos in Melbourne. Her intentions are to be there in ten years time.
Ref No: VMINV1
Comments are closed.