Ground Floor, 242 Union Road, Ascot Vale, VIC 3032

Other | Retail

Sold $1,000,000

  • Property ID: 338979
  • Floor Area: 131m²
  • NBN Availability: Service Available - Hybrid Fibre Coaxial (HFC)
Sold / Leased Results

Name Result Date Floor Land Result Price
Sold N/A 131m2 N/A N/A
Prized Retail Investment - Leased to Bendigo Bank

Situated in the heart of Union Road Ascot Vale, this ground floor retail investment currently leased to Bendigo Bank will be offered for Private Sale.

Featuring a generous layout with open plan reception/office, 2 partitioned offices, ducted heating & cooling, staff amenities and kitchenette. The property is further enhanced by a 6 metre* frontage to Union Road and ROW rear access via The Parade.

Recognised as Australia's 5th largest retail bank, the Bendigo Bank is listed in the top 70 ASX listed companies with more than 110,000 shareholders and 1.7 million customers in over 500 communities.

Investment Summary;
- Tenant: Flemington Financial Services Ltd T/A Bendigo Bank Flemington
- Rent: $47,895.00 per annum plus GST plus outgoings as per lease
- Term: Four (4) years plus two further terms of four (4) years
- Commencement: 1st May 2018
- Reviews: Annual 3%

Property Summary:
- Total building area: 131m2* over two titles
- Rear ROW via common access
- On-site parking for 2 vehicles (not on title)
- Commercial 1 Zone

Superbly positioned in well-known Union Street which is readily developing into a trendy retail, cafe and commercial strip, the property is located under 5km* from the Melbourne CBD and is further supported by the No. 57 tram which runs along Maribyrnong, Union and Epsom Roads.

For further information please contact CVA Property Consultants.


Additional Information
  • Availability: Upon settlement
  • Lease Term: 4 + 4 + 4 years
  • Rent Review: Annual 3%
  • Condition: Excellent
  • Air Conditioning: Yes within office area
  • Floors: Carpet and tiles
  • Lifts: N/A
  • Height: 2.7m Approximately
  • Age: Unknown
Ascot Vale Suburb Profile

Average Advertised Price
Property Type Price (m²) Rent (m²/p.a.) Yield
Industrial --- $338 ---
Retail $7634 --- ---
Offices --- $257 ---
This is the average advertised price, rent and yield for Ascot Vale, VIC 3032*
* Excludes, where applicable, GST, outgoings and incentives. Values calculated based on the prices advertised by the agencies that list their properties on Commercial Property Guide.

Property Detail Notes:

  • NBN Availability - Where this address stands within the nbn™ rollout. Possible statuses: Not currently available, Build preparation, Build commenced, or Service Available. Information provided by nbn™.
  • 3rd Party Content - The information displayed on this page is supplied by registered real estate agents and other third parties. For questions regarding the information that appears here please contact the agent that is listed.
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