Affordable retail investment with redevelopment potential.
This single-story retail property offers immediate rental returns. But that’s just the beginning. Longer term, there’s the opportunity to redevelop the property, maintaining the commercial ground floor and adding residential premises above^.
Currently in use as a hairdressing salon, this property has an existing three-year lease with no further terms.
The brick building sits on a land area of 78 sqm* and enjoys front and rear access. The premises are self-contained with a kitchenette and bathroom facilities.
In addition to retail uses, the property would suit professional or medical offices^.
The property is part of a small retail precinct in an affluent central Balwyn residential area, close to Belmore and Balwyn Roads.
The shopping strip is provided with ample off-road angle parking. It is located across the road from the Hilda Street Reserve and Playground, two minutes’ walk from the Yongala Preschool and just minutes from Balwyn High School and the sporting facilities at Macleay Park.
At the anticipated price-point, this is an excellent opportunity to acquire a valuable freehold in a prestigious area with the potential to significantly increase the capital value over time.
• Land area 78 sqm*
• Building area 68 sqm*
• Kitchenette and bathroom facilities
• Potential to add residential above (STPA)
• Ample parking in front of property
• 3-year lease in place
• Suit owner-occupier or investor
• Central location in prestige suburb
• Rear laneway access
• Schools, childcare and parks nearby
• Close to Belmore and Balwyn Roads
• Zoning: Commercial 1
Auction Thursday 24 August @ 12 noon