GormanKelly is pleased to offer 693-699 High Street, Prahran for sale by auction scheduled for Friday 20th November at 12pm onsite.
Offering a fantastic opportunity to acquire a securely leased retail freehold in one of Melbourne’s best inner city suburbs on a high profile corner and providing for significant future redevelopment potential.
We believe the most outstanding aspects of this property include:
- Three (3) single retail buildings plus rear residential unit held in two titles;
- Potential to further on-sell individual titles;
- Building area 494m² with rear onsite car-park via Orrong Road;
- Four separate tenancies including 7 Eleven with a range of lease terms;
- Currently returning $296,257 net p.a. plus outgoings;
- Suitable for Investors with future potential to develop (STCA);
- Corner site of 1,038m² / Zoned Commercial 1;
- Prime high exposure corner location with combined frontage of 64.4m to High Street & Orrong Road.
The property is situated on the north-western corner of the intersection of High Street and Orrong Road approximately 8.4km* south-east of the Melbourne CBD within the municipality of the Stonnington City Council.
Furthermore the property is in close proximity to the following facilities:
- 2.2km from the Chapel Street retail precinct which is home to Coles, Prahran Pharmacy, Dymocks, Dan Murphy’s, Priceline, JB Hi Fi and all the major Banks;
- Trams on High Street and only 550m from Toorak Railway Station;
- Easy access to the major south-eastern thoroughfares including High Street, Princes Highway and the Monash Freeway;
- Close to Recreational Facilities such as Orrong Park, Toorak Park & Victory Square;
- Close proximity to medical facilities including Cabrini Prahran, Toorak Medical Centre, The Avenue Hospital & The Alfred Hospital.
