Retail Shop with Residence Upstairs
Posted on Apr 18, 2012 by Padraic Ryan.
A prime retail investment situated at 192 Bulleen Road, Bulleen is being offered for sale by GrayJohnson.
On offer is a retail shopfront with a residence upstairs with both tenancies generating a rental income of $38,700 pa approx.
The property, located within a local retail and services precinct, has a street frontage of 6.5 metres with a Business 1 zoning.
The retail shopfront is leased as a fish & chips shop to an established trader under a lease which commenced in February last year for three years with annual CPI increases.
There are also three by three years options to renew with a market review provided at exercise of the option.
The upstairs residence, with access from the rear, is also tenanted under a twelve-month residential lease which expires in March next year.
Both properties were extensively refurbished in 2010.
The property is ideally located in close proximity to the major arterial roads including Eastlink and Manningham Road.
We highly recommend this asset as an excellent long-term investment.
We are expecting in excess of $680,000.
For further details, please contact: Padraic Ryan on 0432 747 255 or Matt Hoath on 0418 543 714
Prime Corner Office Suite For Sale in Malvern
Posted on Apr 17, 2012 by Matt Hoath.
GrayJohnson in conjunction with GormanKelly have been appointed to sell Suite 1, 1 Milton Parade, Malvern via public auction on Wednesday 9 May at 12 noon on-site.
The property consists of a prime ground floor office of 200 sqm approx.
The architect designed contemporary office suite is part of a boutique office building.
It is currently occupied by Strategic Financial Management Pty Ltd under a short term lease, which commenced in February this year with no further options.
The current monthly rental is $6,325 plus GST with all building outgoings met by the Tenant.
In addition to the fully partitioned office accommodation which offers a combination of individual executive and open plan offices and two meeting rooms, there are nine designated off street carparks.
The subject property is on the corner with Toorak Road and has the benefit of excellent access in all directions being immediately adjacent to the Monash Arterial.
The suite also has excellent natural light with easy access to the Tooronga railway station and the new Tooronga Village retail development to the east.
It would be an ideal location for a professional firm, a consultancy or a corporate office.
For more information, please contact:
Matt Hoath 0418 543 714
mhoath@grayjohnson.com.au
Padraic Ryan 0432 747 255
pryan@grayjohnson.com.au
$3.1 Million Off Market Sale For Major Preston Site
Posted on Feb 28, 2012 by Matt Hoath.
One of Preston’s prized key development sites has been sold privately for $3.1 million.
The property known as 33-43 Plenty Road has a total area of 2,496 sqm approx.
Held in two titles with a Business 2 zoning, the property has a principal frontage of approximately 55 metres on its eastern edge to Plenty Road, with a further small frontage at the rear to High Street of another 6 metres.
The principal building on the site with an area of 1,050 sqm was previously occupied by GIO as a motor vehicle insurance assessment centre, while a smaller mechanics workshop on the site is currently subject to a monthly tenancy which expires in February 2015.
GrayJohnson director, Matt Hoath, says that the future development potential of the site is accentuated by nearby developments.
There is a major Woolworths supermarket directly opposite on Plenty Road while a new Aldi store is currently under construction on the adjacent site to the north.
The area which benefits from its easy access adjoins the triangular Plenty Road and High Street junction where the landmark Junction Hotel is located and with its tram and train connections has also seen significant recent multi level apartment projects completed.
The purchaser of this site is a local developer, who intends to seek permits for a new multi level apartment complex on the site.
GrayJohnson acted as the selling agent for a family that has held ownership of this property for over fifty years.
For more information, please contact: Matt Hoath on 0418 543 714
Solid Demand for Box Hill Investment
Posted on Jan 19, 2012 by Matt Hoath.
980-982 Whitehorse Road, Box Hill has sold at auction.
A double-storey retail/office building which is currently leased by two established tenants, has sold to a local investor for $1.35 million.
The property has a frontage of 6.1 metres to Whitehorse Road with a functional footprint of 250 sqm approx. The property also has rear access off Bank Street (via Garretts Lane).
The existing tenants are Seoulia Korean eatery and an upstairs office occupied by Francis Lim and Associates.
This transaction demonstrates the excellent demand for commercial investments within the inner eastern suburbs. More particularly, there is strong demand in Box Hill, Balwyn and Camberwell.
For more information, please contact Matt Hoath on 0418 543 714.
Food Factory Sells For $1.912 Million
Posted on Nov 25, 2011 by Matt Hoath.
GrayJohnson has sold 51-61 Hardiman Street, Kensington for $1,912,500 to a prominent catering company.
The property is zoned ‘Mixed Use’ and has a land area of 1,017 sqm approx with three street frontages. It boasts an expansive frontage to Hardiman Street of 50 metres.
The site is strategically located close to specialty retail and in close proximity to Kensington rail station.
The property is currently being utilised as a food factory and is leased to ISS Catering at an annual rental of $85,000 pa Net. The building area is 715 sqm approx.
This sale demonstrates that the owner-occupier market is active. More especially, for stand-alone buildings in the inner suburbs of North Melboourne and Kensington.
For further details on this transaction, please contact Matt Hoath on 0418 543 714.
Prominent Office/Warehouse For Sale in Bayswater
Posted on Nov 25, 2011 by Matt Hoath.
A prominent office/warehouse strategically located in Bayswater is being offered for sale by GrayJohnson.
The property has a total building area of 850 sqm approx, which includes a well-presented office area and a first floor open plan showroom.
The warehouse is 650 sqm approx and features dual roller door access (container height) clear span design and three phase power.
The property benefits from a prime position (fronting Malvern Street). Malvern Street is regarded as the premier industrial street in Bayswater.
It also has the added benefit of nine (9) off street carparks.
The property is being offered with vacant possession, with a settlement term of sixty (60) days.
The asking price is $1,050,000 + GST.
Please contact Matt Hoath on 0418 543 714 for further details.
Untapped Potential – Mixed Use Site For Sale in Kensington
Posted on Oct 07, 2011 by Ben Evans.
GrayJohnson has been appointed to auction a unique mixed use development site in the heart of Kensington on Thursday 10th November @ 12 noon on-site.
51-61 Hardiman Street, Kensington has a land area of 1,017 sqm approx with three street frontages.
It boasts a wide frontage to Hardiman Street of 50 metres.
The site is strategically located close to specialty retail and in close proximity to Kensington rail station.
The property is currently being utilised as a food factory and is leased to ISS Catering at an annual rental of $85,000 pa Net. The building area is 715 sqm aprox.
The area has undergone extensive redevelopment and we expect strong demand from sophisticated residential developers and owner-occupiers.
We are expecting in the vicinity of $2,100,000 – $2,200,000 + GST.
For further details, please contact Ben Evans on 0403 427 678 or Matt Hoath on 0418 543 714.
Unique Fitzroy North Residential Development Site – Ready to Go
Posted on Sep 26, 2011 by Matt Hoath.
A prominent corner site, strategically located in Fitzroy North, with a permit for a multi-level residential project will be offered for sale at an on-site auction on Thursday 6 October at 12 noon.
The property known as 58 Queens Parade, Fitzroy North is on the north west corner of Napier Street and comprises an existing office/warehouse which is generating a short term holding income.
The land area is approximately 895 square metres with a total street frontage of 45 metres (19 metres to Queens Parade and 26 metres to Napier Street).
The property holds a mixed-use zoning and VCAT has recently directed the City of Yarra to issue a planning permit for the forty-six (46) apartments.
The plans, prepared by David Watson Architects, incorporate 46 apartments over five levels and 37 off-street car spaces spread over two levels of basement.
The site offers a rarely available opportunity of a ready to develop apartment project in Fitzroy North, which is one of the most in-demand city-edge suburbs with its lifestyle and retail appeal, plus several schools, public transport and a diversity of community services.
The 58 Queens Parade site is within walking distance to cosmopolitan Brunswick and Smith Streets as well as Queens Parade whilst the Edinburgh Gardens and the North Fitzroy swimming pool are also within easy reach.
Developers will be very enthusiastic about the opportunity as there is clearly strong demand from owner-occupiers wishing to secure residential property in this readily accessible locality.
Pre-auction expectation is for a selling price in the $3.8 million region with the auction terms of a 10% deposit and 60 or 90 days settlement available.
More information on the Thursday 6 October auction of 58 Queens Parade, Fitzroy North can be obtained from Matt Hoath at GrayJohnson on 0418 543 714 Mark Wizel at CBRE on 0411 694 756.
Development Site Sells Off Market
Posted on Sep 01, 2011 by Matt Hoath.
GrayJohnson has negotiated the sale of 802 Heidelberg Road, Alphington for $1,375,000.
The site was purchased by a local developer, who intends to consolidate the adjoining property and build residential apartments.
The site consists of 495 sqm approx with a large frontage to Heidelberg Road of 12.60 metres.
The property is zoned Business 1, which provides excellent scope to redevelop.
The sale demonstrates there is strong demand for well-located sites in the inner northern fringe; more particularly, in the Alphington, Fairfield and Northcote area.
We believe this sector is the one to watch in 2011 – 2012 as there is a lack of quality mixed-use developments being constructed.
For more details regarding this transaction, call Matt Hoath or Padraic Ryan.
Brand New Retail Development Fully-Leased
Posted on Aug 19, 2011 by Ben Evans.
A new retail development at 305 High Street, Ashburton on the corner with Carool Road and adjacent to the Ashburton railway station is now fully leased. Designed by leading architects, Ascui Edwards, the property consists of five prominent retail tenancies ranging from 113 sqm – 140 sqm approx.
The largest tenancy known as Shop 5 on the corner with Carool Road has been leased for $480 a sqm on a five year plus five year option basis to Every Battery, a retailer of batteries, chargers and solar panels.
The lease has a commencing annual rental of $68,160 net.
Shop 1 of 113 sqm has been leased to St Vincent’s Pathology, a unit of St Vincent’s Hospital, to establish a new pathology laboratory service.
The lease is for five years with a further five year option at a commencing net annual rental of $50,850.
Shop 2 in the development of 116 sqm has been leased to Audio Clinic, part of a national hearing testing group, at a commencing net annual rental of $50,000 on a five year plus five year option basis.
Shop 3 of 116 sqm is leased to Lily Infusion Weddings, a bridal boutique and wedding planner on a three year lease with two further three year options, also at a commencing net annual rental of $50,000.
Shop 4 of 116 sqm is leased to an up-market cafe operator trading as The Oak Room on a six year plus six year lease basis with a commencing annual rental of $50,000.
The total annual rental from all five leasings exceeds $269,000 pa Net with fixed annual increases.
For further details, please contact Padraic Ryan or Ben Evans.