46 Sydney St, Mogo, NSW 2536

IT HAS GOT TO BE VALUE!

Mogo is located around 10 km from the busy regional tourist centre of Batemans Bay and around 18 km from the administrative hub of Moruya. The town is in transition - quietly developing into what many are calling the Berry of the South Coast, perfect for people who have a long-term vision in place.

This charming tourist village attracts a steady flow of visitors, drawn to its eclectic mix of shops and services. Close by are the well regarded Foxdog Distillery and the ever-popular Mogo Zoo-both major drawcards, the pristine beaches of Tomakin and Broulee are just around 10-minute drive away.

The Clocktower Arcade is a purpose-built complex with a total floor area of approximately 1,137 sqm in size the current replacement value of the solid building would have to be at least $2,000,000 plus the land value - at the current price this looks like a solid opportunity.

The base level includes 7 lock-up storage areas, two are around 100sqm each and are currently unused, bathrooms, and a secure parking area measuring 16.6m x 13.6m-great for tenants or staff parking.

The retail area sits at street level and offers seven shops of various sizes. Shop 3 includes stair access to a mezzanine level of around 57sqm. Mogo Pies trades from the front and holds a formal lease, while the other occupied shops are leased on handshake agreements and support various artisan businesses - many tenants have been there for over 10 years.

This gives flexibility whether to maintain the current setup or take it in a different direction to suit your own situation.

The property is on one title but is individually metered for electricity. A large solar system has been installed by the current owner, with energy supplied to the shop tenants-creating a passive income stream and helping reduce power costs across the board, if a battery was added it would no doubt increase your returns.

If a group of like-minded buyers were interested in a joint purchase, this opens the door to shared ownership with individual control of the shops an option worth exploring.
Mogo is steadily gaining momentum as a destination town, with strong support from Eurobodalla Council. The rapidly developing and very popular Mogo Bike Trails are just one example-drawing riders from far and wide to explore the region's pristine forests, why not get a group of likeminded riders together and share the base level while maintaining an income from the shops.

If you've got a bit of vision-or a crew that shares one this investment might be exactly what you've been looking for, at the asking price its currently showing a 6% return after outgoings.

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