CBD property for sale
Ortem and studio are tenants
AN “ART deco” property in the Toowoomba CBD that houses a popular cafe and dance studio has hit the market.
The tenanted building on Railway St, which featured Ortem Cafe and Dance Connection, was put up for sale for nearly $800,000 through DC Commercial.
In the online listing, agent Drew Camm pointed to the design of the building, two-street access, quality of the tenants and its position within the CBD.
“Situated in a thriving area of Toowoomba’s premium café precinct and next to the famous Betros Bros, 15 Railway Street is a fantastic art deco inspired investment opportunity.
“The ground floor and a section of first floor are leased to a popular café. The café has been in place since 2015 with the current lease expiring in 2021, with a three-year option.
“The dance studio has occupied remainder of first floor for the last 20 years, with a three plus three-year lease
“Located on the fringe of the Toowoomba CBD and only 500m from Grand Central Shopping Centre, 15 Railway Street is zoned within the Railway Parklands Priority Development Area.”
According to RP Data, the property has changed hands three times since 1981, but has not been sold since 2006.
For more information about the property, call Drew Camm on 0432 055 250.