Retail Sweet Spot

365, High Street, PRESTON, VIC, 3072

Overview

Invest, Occupy or Develop^

GrayJohnson is excited to bring to the market this stand-alone single-storey retail shop located in High Street’s bustling retail core. Currently returning $53,245 pa net + GST and outgoings, the lease to long-term tenant Achillion Cakes expires on 31 July 2024 providing an investor with the ability to renegotiate favourable lease terms, or re-enter the property to the competitive leasing market. Alternatively, the property offers an outstanding opportunity for an owner-occupier or potential developer to secure an ideal position in a thriving retail precinct.

The opportunity:
• 4-year lease expires 31 July 2024
• Returning : $53,245 pa net + GST & Outgoings
• Land area: 216 sqm*
• Building area: 141 sqm*
• Rear laneway access to onsite parking
• Public parking at rear

The location:
• Thriving shopping strip location
• 350m* from Preston railway station
• 6-minute* walk from St Georges Road tram
• Easy access to major arterials
• 9km* north of the Melbourne CBD
• Priority Development Zone

The property is located just north of Bell Street 10km* from the Melbourne CBD. This part of High Street is home to a mix of retail businesses and cosmopolitan eateries. An Aldi supermarket and the Preston Market are just around the corner and it’s a 5-minute* walk to Preston railway station. The Preston City Oval and public parking are at the rear, as well as parking on the property accessed via the rear laneway.

At Gray Johnson we have recently seen considerable interest from investors in quality retail properties such as this one. The location in a Priority Development Zone points to excellent future prospects for this well-positioned and well-maintained property.

*approx
^STPA

Key Details

Status
For Sale
Type
Retail

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