Ray White Commercial (Vic) is delighted to present to the market a rare opportunity to acquire two (2) stand-alone retail properties with approved plans and permits for an outstanding mixed-use development.
This unique opportunity, nestled within the south-eastern growth corridor and in one of Melbourne's most rapidly rising suburbs, offers the flexibility to develop whilst allowing the current Tenants to continue trading from the current premises, will be offered by way of a Public on-site Auction on Friday 18th May, 2018 at 12:00pm.
Approved Permit for a 3 level mixed use development consisting of two (2) retail premises & seven (7) x two (2) bedroom apartments, all with private balconies & allocated car spaces.
Property Details:
• Total land area | 503m2 approx
• Total building area | 230m2 approx
• Two (2) Titles, Two (2) Separate Tenancies
• Approved Permit for seven (7) x two (2) bedroom apartments
• Excellent Retail Freehold Opportunity
• Current combined rental | $41,750 p/a + GST + Outgoings
• Commercial 1 Zone (C1Z)
Tenancy Details:
150 Rosebank Avenue:
- Five (5) year lease commenced 21st December 2015
- Two (2) further options of five (5) years each
- Currently returning $22,092 p/a + GST + Outgoings
152 Rosebank Avenue:
- Five (5) year lease commenced 19th August 2016
- Two (2) further options of five (5) years each
- Currently returning $19,658 p/a + GST + Outgoings
For a copy of the information memorandum, Contract of Sale as well as plans and permit information please contact one of the exclusive marketing agents:
George Kelepouris - 0425 798 677
Theo Karkanis - 0431 391 035
