2299 & 2299A Point Nepean Road, Rye, Vic 3941

Unlock the potential of a rare offering-two distinct properties, each on its own title, yet perfectly positioned to create a powerful investment package. Featuring a high-demand commercial space and a stylish 3-bedroom apartment, this unique opportunity promises both strong returns and long-term growth.

The ground floor is home to the well-established Oriental Cuisine and Noodles, generating an impressive rental income of approximately $54,000 annually, plus outgoings. Prime beachfront commercial properties like this rarely hit the market, making this a must-see for savvy investors looking to secure a high-profile location.

Upstairs, a private entry from Point Nepean Road and rear laneway access leads to the spacious 3-bedroom apartment. Designed for modern living, the open-plan kitchen, dining, and living area seamlessly flows onto a north-facing terrace with stunning views of the Rye Foreshore.

The master bedroom is complete with built-in robes and a private ensuite, while two additional bedrooms share a central bathroom. Enjoy year-round comfort with split system heating and cooling, plus a cozy fireplace. The apartment also features a separate laundry, two undercover parking spaces at the rear, and all the conveniences of a prestigious Blue-chip coastal address.

With dual income streams and positioned on 204 sqm of prime land, this is an unparalleled investment opportunity with promising financial returns. A perfect combination of commercial strength and residential appeal, this property is a true symbol of coastal elegance and investment potential.

Property Overview:
Commercial Premises (Ground Floor):

Oriental Cuisine and Noodles operating on a secure lease
Monthly rent: $4,444 inc. GST
Lease term: 5x5x5x5, currently in the second term
Lease commencement: 1st May 2021
Market rent review: 01/05/2026 and 01/05/2031
Fixed annual rent increases of 2% or CPI, whichever is higher
Residential Apartment (Upper Level):

Separate entry from Point Nepean Road
3 bedrooms, 2 bathrooms, and a north-facing balcony with foreshore views
Undercover parking for 2 cars
Split system heating and cooling, plus a fireplace for added comfort
Don't miss out on this exceptional opportunity to own a versatile property that blends prime commercial space with a luxurious coastal residence.