GormanKelly is pleased to offer 132-142 Wellington Parade, East Melbourne for sale by Expressions of Interest closing Wednesday 13th May at 3pm.
The property offers a prime and unbeatable opportunity to secure a corner iconic East Melbourne freehold located moments from the Melbourne CBD. The property is leased to a range of retail and office tenants with flexible lease terms in place making the property ripe for redevelopment or alternatively would provide a fantastic passive investment with major redevelopment upside.
The site occupies a corner site of 709 square metres with Commercial 1 Zoning and features rear access and parking and provides a substantial redevelopment opportunity (STCA).
Located opposite the Melbourne Cricket Ground the site would provide fantastic views to the south and back to the Melbourne CBD and is well serviced by public transport and surrounding amenity. The property currently returns $529,391pa plus outgoings & GST and is leased to quality longstanding tenants including 7-Eleven.
132-142 Wellington Parade is located on the north-eastern side of the Wellington Parade and Powlett Street intersection approximately 1km* east of the Melbourne CBD within the municipality of the Melbourne City Council.
The property occupies a fantastic high exposure location in an established inner city area surrounded by major hospitals and notable landmarks including; the former Mercy Hospital (now a luxury residential development), the Hilton Hotel and Fitzroy Gardens. The Melbourne Cricket Ground is situated immediately opposite. Further, there are also a number of high rise commercial and residential developments along Wellington Parade.
The property is situated opposite Jolimont Railway Station with tram services also operating on Wellington Parade and the property is a short commute into the Melbourne Central Business District. The property is also within close proximity to a number of major Melbourne Sporting venues including Rod Laver Arena, AAMI Park and Hisense Arena.
For further information please contact the exclusive selling agents David Minton 0422 987 749 or Robert Kelly 0418 655 242 from GormanKelly.
