CBRE Victorian Retail Investments in conjunction with Gorman Kelly are pleased to present for sale, under instructions from the Vendors, the opportunity to acquire the iconic "Stotts Corner" retail and office freehold located at the popular Glenferrie and Riversdale Road junction, within the affluent inner city suburb of Hawthorn.
The offering comprises a fully occupied two (2) level freestanding building securely leased to three quality tenants plus Optus rooftop income.
The key features of the property can be summarised as follows:
524-532 Glenferrie Road, Hawthorn:
* Prominent two (2) level freestanding building with over 45 metres of frontage onto the busy Glenferrie & Riversdale Roads
* Fully leased to three quality tenants plus Optus rooftop income
* Rare long term 5 year* Weighted Average Lease Expiry (WALE)
* Substantial building area of 696 sqm* with onsite parking and rear access
* Over 578 sqm* of prime Hawthorn land
* Current passing income of $226,124 per annum plus outgoings and GST
* Excellent location in close proximity to public transport, Monash Freeway/Citylink Camberwell Junction, Swinburne University and Glenferrie Road retail precinct
* Servicing one of Melbourne's most affluent and desirable locales
* Future redevelopment and/or subdivision potential (STCA)
*approx
The property is being offered to the market via On-site Public Auction Wednesday 11th December 2013 at 12.00pm. To obtain further information, or to arrange an inspection, please contact the sales and marketing agents.
