Dawkins Occhiuto are pleased to exclusively present for your consideration this exceptional opportunity to acquire 11 Newton Street, Cremorne.
The property comprises a high quality, three-storey office building which is currently 100% leased to Figurehead Construction, Energy Locals and Robert Luxmoore Project Management. With the current leases expiring in 2024-2025¹, the asset provides owner occupiers the opportunity to occupy the premises in the near-term.
The Commercial 2 zoned site of 1,063 sqm* offers the potential to be developed into a 9-level office (STCA), with significant holding income to provide security in the medium-term. Cremorne has rapidly become Melbourne's hottest development commercial precinct and has garnered international acclaim due to its reputation as a precinct where major companies establish their headquarters.
Key features of 11 Newton Street include:
+ Three-storey office with an NLA of 1,494 sqm* and 25 car bays
+ 100% leased investment with a 1.4-year* WALE
+ Quintessential Cremorne office with polished concrete floors, glazed façade and industrial-style fitouts
+ Net Passing Income of $547,402 p.a.*
+ 5-Star NABERS Energy Rating
+ Significant site area of 1,063 sqm* with 22 metres* of frontage to Newton Street
+ Flexible Commercial 2 zoning
+ Located in the vibrant Cremorne precinct, a bustling area which is renowned for its thriving business and lively social scene
This exceptional property is offered for sale via Expressions of Interest campaign closing Thursday, 17 August 2023 at 3.00pm (AEST).
Please contact exclusive selling agents, Dawkins Occhiuto for more information.
*Approximately as at 1 July 2023
¹ Termination Clause: Pertaining to one lease, the landlord may exercise the termination additional provision for the further term of the lease. A break fee of $140,000 is payable by the landlord to the tenant if this clause is exercised.
STCA - Subject to Council Approval
