SOLD PRIOR TO AUCTION "PHILLIPS ARCADE"
•Currently returning $320,000 pa* with early termination and re-development clauses
•Enormous potential for cash flow uplift with estimated fully let income of $500,000 pa*
•Substantial 1,887sqm* land holding with rear access and 23* on-site car parks.
•One of the last remaining super sites on Puckle Street with dual access
•An established and iconic retail arcade with a massive 30 metre* frontage
•Building consists of 15 tenancies comprising 14 retail shops and large first floor office space.
•Strong performing 7 day trading retail and commercial precinct
•Highly sought after location just 6km* from the Melbourne CBD
•Property offers a unique and exciting opportunity to acquire a freehold building with significant development potential.
•Located in a vibrant Activity Centre Zone (ACZ) allowing for multiple re-development strategies (STCA).
•Property sold with the added benefit of an approved planning permit for a 10 storey mixed use building comprising 84 apartments, 9 retail shops and office
For further information, contact the selling agents Dominic Gibson 0409 366 941 or James Latos 0437 537 957.