74 Wellington Parade, East Melbourne VIC

For Sale

Retail

SOLD

235m2

Savills and M.G.O Property is delighted to offer For Sale by Public Auction this remarkable corner retail freehold in one of Melbourne’s most exclusive suburbs – East Melbourne.

The key attributes of 74 Wellington Parade include:

- A prime corner retail building of 235sqm* with three off-street car parks
- Fully leased to two tenants
- Ground Level – 5+5 year lease from Nov. 2013 / First Level – 3 year lease from Dec. 2012 (no options)
- Incredibly valuable landholding of 193sqm* (Commercial 1 Zoning)
- Total Net Rental: $95,576 per annum*
- Exceptional future upside potential with relatively low current rents and flexibility/value-add potential offered with level one
- Significant future development potential with an allowable height under DDO21A4 of 24 metres* (8 levels - STCA)
- A superb and tightly held retail location within one of Melbourne’s most affluent suburbs (Median house price: $1,862,500)
- Strong retail location as an extension of Bridge Road and a main arterial road into the CBD
- Situated directly opposite the MCG and Melbourne’s vast sporting precinct
- An unbelievable corner retail investment in a blue-chip location!

The opportunity to secure such a high quality freehold property at an accessible price point on the cusp of Melbourne’s CBD is exceedingly rare. Accordingly, we encourage prospective buyers to actively consider this exceptional opportunity.

74 Wellington Parade is For Sale by Public Auction on Friday 25 September at 12-noon on-site.

For further information, please contact:

Savills:
Nick Peden 0402 011 266
Jesse Radisich 0402 085 702

M.G.O Property:
Martin O’Halloran 0417 545 344