Triple Treat in the Heart of Hawthorn

85-87 Burwood Road and 10 Elgin Place, Hawthorn
Two shops, two first floor apartments plus a two-level studio.

• Three securely-leased properties, to be offered as one.
• Total combined income of $112,600 pa, with outgoings & GST payable by the tenants.
• Two impressive retail freeholds facing Burwood Road plus one office/studio building fronting Elgin Lane (at the rear).
• These prominent main road properties combine ground floor retail spaces (one café, one pizza shop) with bright first floor 2-bedroom residences.
• The rear two-storey building (10 Elgin Place) is an established music recording studio comprising several sound-proof rooms with adjoining mixing desks and first floor amenities.
• All three properties are let to long-term occupants, offering a purchaser security of tenure with the added benefit of three separate income streams.
• Alternatively, all leases expire in 2013 (with no options), allowing redevelopment or value-add opportunities to the astute investor/developer.
• Building areas:
  – 85 Burwood Road: 141m² approx
  – 87 Burwood Road: 163m² approx
  – 10 Elgin Place: 336m² approx

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Total Building Area: 640m² approx

Total Land Area: 447m² approx

• This unique parcel, in one of the best main road locations in the eastern suburbs, represents an outstanding opportunity to secure a quality investment with a strong lease profile and future refurbishment or development potential.
• Realise the possibilities of owning such a flexible allotment in a blue ribbon suburb.

The subject property is located on the northern side of Burwood Road, being approximately 4.5 kms east of Melbourne CBD.

The surrounding area provides a diverse mix of commercial offices, specialty retail including cafés and restaurants and high net worth residential properties.

The immediate area has seen recent significant development of various corporate office buildings; namely, Sero at 108 Power Street, Vantage at 109 Burwood Road and Stantins at 58 Burwood Road; a mixed-use development designed by RotheLowman Architects.

It is ideally positioned being in close proximity to all modes of public transport as well as St James Park. Hawthorn train station is opposite the property, with both trams & buses travelling past the front of the buildings.

The property is further enhanced by its proximity to arterial roads and freeways, with Burwood Road being a main thoroughfare to/from the CBD and Power Street located 50 metres away. In addition to this, both the Monash and Eastern Freeways are easily accessible via Yarra Boulevard and Chandler Highway respectively.

For further details, please contact:
Ben Evans 0403 427 678
bevans@grayjohnson.com.au