By Alesha Capone
A commercial building in Truganina, which is leased to an Indian restaurant, is expected to sell for more than $1 million.
Burgess Rawson will host a portfolio auction at Crown Casino on Wednesday, February 26, where the restaurant building at Lot 2, 451 Leakes Road will be up for sale.
The building, located at the intersection of Forsyth and Leakes roads, is leased to Kasba Indian Restaurant on a seven-year lease until 2026.
The 144 square metre premises, which was built in 2018, includes a large alfresco dining area.
The restaurant is part of a retail hub including a service station and medical and childcare centres.
Burgess Rawson director Shaun Venables said that with Truganina being home to Victoria’s largest Indian-born community, the restaurant had already established a significant and loyal local following.
“The tenants have been there since the complex launched, and they have already proved extremely successful,” he said.
“In terms of the lease itself, for an investor it ticks all the boxes, with six years of the term remaining and the tenant paying all outgoings.”
Mr Venables said the property was expected to sell “in the low $1 million range”.