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467 - 473 Chapel Street South Yarra VIC 3141

  • Shop & Retail
  • 734 m²
  • Expressions of Interest

CAPITALISE ON CHAPEL STREET

  • FOUR TITLES IN ONE LINE
  • LEVERAGE OFF HIGH GROWTH PRECINCT
  • INVEST - OCCUPY - DEVELOP (STPA)

**EOI Closed - Offers Under Review **

Emmetts are delighted to present 467-473 Chapel Street For Sale. Four titles offered in one line providing the ultimate flexibility for value-add investment, owner-occupation or redevelopment (STPA) in one of Australia's most exciting growth precincts.

Key investment considerations include:

The Location

+ Positioned in South Yarra Melbourne's most exclusive inner-city suburb which continues to attract high value retail, commercial and tourism businesses as well as housing some of Melbourne's most expensive residential real estate.

+ Strong residential population growth estimated to grow by 19.9% by 2036 (Profile ID). Strong office worker and tourism related population growth is also anticipated to boost daily consumer numbers.

+ Outstanding connectivity within walking distance to three train stations, several tram lines as well as Melbourne arterial road and freeway network.

+ Recently completed developments in South Yarra demonstrate strong demand for a range of occupational uses spanning commercial office and hotel development.

+ Retail demand has also improved significantly in the past 18 months with several new flagship leasing deals as well as several lease renewals demonstrating retailer confidence in South Yarra.

+ A development pipeline that is unmatched within Victoria outside of the CBD, that includes a range of residential, office, hotel and retail that will continue to facilitate strong growth in the population of not only residents but also office workers and tourists.

+ Located within 50 metres of the properties, Newmark, Gurner and Qualitas have recently gained planning approval to redevelop the Jam Factory with multiple towers comprising 20,000 sq m of office, 400 residences, 200 hotel rooms and 18,500 sq m of retail.

The Property

+ Four adjoining freehold titles offered in one line.

+ Combined valuable frontage to Chapel Street of 22 metres*

+ Right of way at rear providing rear access and off-street parking

+ Combined land holding of 673 square metres*

+ Combined building area of 734 square metres*

+ All buildings are currently leased on short leases providing flexibility for value-add investors and developers (STPA).

+ Value-add investment opportunities include creating a consolidated flagship retail tenancy to leverage of the undersupply of flagship sized tenancies within South Yarra as well as to maximise covenant and longer term investment value. Alternatively improving the existing shops and letting up on long term leases without redevelopment break options in order to maximise rents.

+ The property's land size, frontages, right of way at the rear as well as council's built form guidelines also provide excellent development potential (STPA). The Activity Centre zoning also provides flexibility for a range of high value development outcomes that could include retail, office, hotel and residential uses.

For further details, contact the Emmetts team as the exclusive agents.

EXPRESSION OF INTEREST

Closing date and time10/08/2022 15:00
Recipient nameAsk Agent
Delivery addressAsk Agent

Property Highlights

Floor Area734 m²
Land Area673 m²
ParkingAsk Agent
Annual ReturnAsk Agent
AvailabilityVacant
Property ID2017918201
Category
Last updated  11 Aug 2022
Map for 467 - 473 Chapel Street South Yarra VIC 3141

Property Highlights

Floor Area734 m²
Land Area673 m²
ParkingAsk Agent
Annual ReturnAsk Agent
AvailabilityVacant
Property ID2017918201
Category
Last updated  11 Aug 2022
Level 7/24 Collins St Melbourne VIC 3000
Charles Emmett
Charles Emmett
Emmetts Real Estate
Xander Yeo
Xander Yeo
Emmetts Real Estate
Geoff Emmett
Geoff Emmett
Emmetts Real Estate

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