GormanKelly is pleased to offer 1426 High Street, Malvern for sale by auction.
This rare offering provides investors and/or developers with the opportunity to secure a leased, retail shop with dwelling located in a high-exposure location on a major south-eastern arterial road.
We believe the most outstanding aspects of this property include:
- Offers excellent position, income and potential for improvement/development (STCA);
- Prime positioned shop and two-bedroom dwelling;
- Separate rear access to dwelling;
- Current rent $21,683.16 p.a. plus GST and outgoings;
- Market review - November 2012 - potential for significant rental growth!
- Land area of 206m² with excellent rear laneway access;
- Strong boutique local retail strip;
- Minutes to Freeway, Malvern Station and tram on doorstep;
- First time offered in over 50 years;
- 3 year lease plus options.
1426 High Street, Malvern is located on the southern side of High Street near the intersection of Tooronga Road. High Street is a major arterial road that runs in an east-to-west direction from Prahran through to Ashburton, where it then becomes High Street Road.
The subject property is located approximately 11km* south-east of the Melbourne CBD within the municipality of the Stonnington City Council.
Due to the constant stream of traffic and as one of the region's main thoroughfares, properties situated alongside High Street, Malvern receive ample exposure. The locale in which the property is positioned is a well-established retail strip, strongly supported by the dense surrounding residential catchments and steady stream of passing motorists, tram services and foot traffic. Additionally, as it is only minutes from the Glenferrie Road, the property is serviced by consumers utilising the region's retail amenities.
