Rare Find
We don’t use the term “Rare Find” loosely.
The versatility of use that this property offers is endless (STCA)!
OWNER OCCUPIERS
* Use as an inner suburb warehouse (that is rare)
* Jointly run a business and live in
* Maybe add a couple of light weight floors above to live where you work
* Continue the use as a gallery
DEVELOPERS
* It is 557sqm* of land with a 10.5m* height limit
* Flexible Mixed Use zoning
* Ideal site dimensions and two street frontages
INVESTORS
* Leased to long-standing tenant: Gallerysmith
* Rental at $83,200 per annum net (at March 2024)
* Lease expiry March 2025 (no option)
* Plenty of market rental upside
* Tenant interested to stay
All of the above are just ideas subject to council approval and whether or not the building is built to allow additional levels. However, continuing the theme of a rare find, the location can only be regarded as very accessible.
* The CBD positioning is obvious
* Close to two (2) exit/on ramps onto Citylink freeway which links to all the other freeways
* Close to the new “West Melbourne” train station (soon to be completed)
* Historic retail precinct at Errol Street
And is it great to have some short-term income so there is no GST payable. However, the Art Gallery is a great use for the building and worthy of inspection.
For further details or to arrange an inspection please contact:
Julian Vautin 0420 406 660
Matt Nichols 0418 186 488
PLEASE NOTE:
* All information and measurements are approximates. Please refer to Contract of Sale and/or Lease documentation. All images subject to copyright. Unauthorised use is strictly prohibited.
