GrayJohnson is excited to bring to market this exceptional property, strategically located close to Sandringham Station, which has been designated by the Victorian Government as a key “Train and Tram Zone” activity centre under its housing initiative.#

This property offers immediate income and exceptional potential for conversion or redevelopment. A concept plan for an 12-storey mixed-use project has been prepared by CJY Architects that indicates potential for uninterrupted sea views on upper levels.^

Alternatively, with lofty ceilings and a large basement cable chamber, the property provides a blank canvas for an investor or future owner-occupier to reposition the premises for a range of uses, including retail, hospitality, medical, creative offices or a gallery.^

A lucrative triple net leaseback to Telstra provides time to progress renovation plans, or to submit plans and permits to Council for a high-density, mixed-use development.^

The opportunity
• Building area 560 sqm* on land 974 sqm*
• Two street frontages
• Triple net Leaseback to Telstra: 3-years (with early termination clause+) plus 18-month option
• Favourable Commercial 1 Zoning

The location
• Prominent corner position in Sandringham Village
• 240 metres* to Sandringham railway station
• A multitude of shops, eateries and professional services on the doorstep
• 6-minute* walk to Sandringham Beach
• Ready access to major arterials

#www.premier.vic.gov.au
+conditions apply
*approx.
^STPA