289-291 Cross Rd, Clarence Gardens. Pic: realcommercial.com.au
It’s been the headquarters of award-winning SA chocolate brand Bracegirdle’s for well over a decade.
But now, the iconic Swiss-chalet-style building at 289-291 Cross Rd, Clarence Gardens, could be yours for the taking, with the landmark property offered to the market for $1.8m.
Leased to the chocolatier until 2031, the 1935-built property promises a net annual rental return of $98,375.48, making it a profitable deal for investors, according to selling agent Nick Mastrangelo of Mastracorp Real Estate.
“The tenants just signed a seven-year lease, so the value of the property is very much…
The city of Newark sold seven blighted or vacant properties for $1 each in a lottery aimed at supporting their rehabilitation, reports Gaby Galvin in Smart Cities Dive. According to Galvin, “Mayor Ras Baraka bills the $1-home program, which targets low- and moderate-income residents, as a way to close wealth gaps and prevent corporate investors from buying up homes and hiking up the rent.”
Buyers will have access to a low-interest mortgage to fund repairs or construction. The properties include vacant lots, single-family homes, and multifamily buildings. “Buyers can’t be current homeowners, they must have lived in Newark for at…