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Land Bank Investment - Two Buildings - With UpsideProperty ID 1548939- Total land area 873m2 approx. (17.9m frontage x 49.2m length)
- Total building area 696m2 approx.
- Two Blue Chip tenants, 2 buildings on one title
- Combined annual rental approx. $222,150 + GST + Outgoings
- Future development potential
- Rear laneway access via Francis & Dixon Streets
- Zoning: C1Z & GRZ12
Tenancy 1: Bayford Group Pty Ltd
- Lease term: 9 years commenced 14/11/2012 (ending 31/08/2021)
- Rental as of 14/11/2016 $146,232 p/a + GST + Outgoings
- 4% annual increases
Tenancy 2: Pack & Send
- Lease term: 3 x 3 x 3 commenced 28/08/2010 (ending 27/08/2019)
- Current rental approx. $75,918 p/a + GST + Outgoings
- 4% annual increases
Ray White Commercial are pleased to present for private sale an outstanding investment property currently leased to two quality tenants in one of Melbourne's most tightly held and sought after retail precincts.
Zoned C1Z & GRZ12 on high-exposure Malvern Road, these two properties are to be sold as one, offering an amazing and exciting opportunity for any astute investor or developer.
Apply for plans and permits for a multi-storey unit development (STCA) offering panoramic views, while enjoying the income of the current tenancies.
Located adjacent to Hawksburn Village in the heart of affluent Prahran between Williams Road and Chapel Street, the prime position offered by this property is certainly one that you will want to add to your investment portfolio.
For Sale $6,400,000
Paul Rizzo 0418 688 888
George Kelepouris 0425 798 677
Key Information Tenancy Status Currently Tenanted Annual Yield (Gross) N/A (Marketed Without Price) Annual Yield (Nett) N/A (Marketed Without Price) Title Scheme Not Applicable
The above figures are estimates and should not be relied upon by a purchaser. The returns are not guaranteed. Further disclaimers apply.
* Total annual expenses are based upon information provided by the vendor. They exclude potential costs that will vary according to the purchaser. Excluded costs include, but are not limited to, management and leasing fees, marketing costs, repairs and maintenance.
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