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Posted on 19 November 2021

Shops 1 to 4 at 16-18a Main Street in Mornington are three retail investments offered for sale through Vinci Carbone Property and Russell Murphy Real Estate.

Positioned in the heart of Mornington’s Main Street, the peninsula’s most vibrant retail and tourist precinct, this offering of three separate lots comprises the ground floor retail component of the Miramar building which was completed in 2019.

Spread across four titles, the retail property is leased to three restaurant tenants on 10-year leases from 2019 – Tio Tapas Y Vino returns $108,736 per annum (net), Okami returns $180,680 per annum (net) and La Sorella returns $200,461 per annum (net).

On top of a prominent corner position, the properties also include basement parking for five cars.

Frank Vinci said: “Mornington’s Main Street has become the most patronised retail and food strip on the Mornington Peninsula with locals and visitors flocking to the strip seven days a week."

“These investments represent a great opportunity for astute buyers to secure premium grade long-term investments in a thriving precinct with continued population growth.”

Shops 1 to 4, 16-18a Main Street, Mornington will be sold as three separate lots via an onsite public auction on Wednesday, 15 December at 1pm.