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Sold on 12 Dec 2019

30-38 Thistlethwaite Street South Melbourne VIC 3205

  • Offices
  • 1,055 m²
  • Sold

Spectacular South Melbourne Investment/Land Bank Opportunity

  • Fully Leased Office Investment
  • Significant Potential Rental Upside
  • Current Height Potential of 18 Levels

Savills is delighted to offer for sale this high quality office building located at 30-38 Thistlethwaite Street, South Melbourne. This striking two level office building is fully leased to a longstanding tenant and is ideally located in the heart of South Melbourne, close to Southbank and Melbourne’s CBD, presenting an outstanding investment opportunity with significant future development potential.

The key attributes of the property include:

- A large, high profile office building of 1,055sq m*
- Highly valuable landholding of 884sq m* with three street frontages
- Capital City Zone 1 - providing significant future development potential
- Design and Development Overlay 30 provides current height potential of at least 18 levels (STCA)
- Fully leased to award winning business ´Arid Zone´, in operation since 1987.
- 5+5+5 year lease from May 2016 with fixed annual rental growth and demolition clause
- Current Net Rental: $156,060 per annum* + Outgoings & GST
- Significant future rental upside potential with market review in 2021
- Undercover parking for 7 vehicles
- Perfectly positioned on the cusp of the CBD within easy walking distance to South Melbourne Market, Crown Casino, South Wharf retail/dining precinct and more
- One of Melbourne´s most active and sought after development locations with countless surrounding projects underway

30-38 Thistlethwaite Street, South Melbourne is For Sale by Expressions of Interest closing Wednesday 18 July at 2pm.

For further information, please contact:

Benson Zhou - 0458 488 888
Jesse Radisich - 0402 085 702
Nick Peden - 0402 011 266

Supporting Documents

Supporting Document 1
Address30-38 Thistlethwaite Street South Melbourne VIC 3205
ZoningCCZ1 - Capitcal City Zone (CCZ) Schedule 1
CouncilPORT PHILLIP CITY
We try our best to keep zoning info up to date but can never guarantee it's accurate or complete. Check directly with the relevant council to verify any zoning information.
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Property Highlights

Property ID2014454267
Date Sold12 Dec 2019
Floor Area1,055 m²
Land Area884 m²
EnergyAsk Agent
ParkingAsk Agent
Building TypeWhole building
Category
Last updated  12 Dec 2019
Map for 30-38 Thistlethwaite Street South Melbourne VIC 3205
Map for 30-38 Thistlethwaite Street South Melbourne VIC 320530-38 Thistlethwaite Street South Melbourne VIC 3205
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  • Purchase price

    $
    1,234,567

  • Deposit available

    $
    123,456

  • Loan term

    30
    years

  • Interest rate

    3.00
    %

repayments

$0/month*

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Savills Melbourne
Level 48, 80 Collins Street Melbourne VIC 3000

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