POINT OF INTEREST:
Auction Thursday 2nd June at 12 noon on site
This is Vermont’s prized asset on any portfolio; the perfect landbank with income. You’re acquiring 253 sqm* of building sitting on 484 sqm* of freehold land, with an industrial-style warehouse. Currently, it’s tenanted by the Eastern Cheer & Dance Academy who have been occupying the space since 2018, returning $30,460.56 per annum net. A direct street frontage of more than 13.7 m* to Nurlendi Road and right of way access to the Northern boundary are ideal elements for future development of the asset, while also sitting adjacent to the Canterbury Road commercial precinct. Holding income means you can either let the value speak for itself on your portfolio, or it’s a useful buffer before developing something for a mixed-use residential and/or commercial market. With allocated parking onsite, less than 50 m* from Canterbury Road, and walking distance to the 736/735 bus; this is an income-lining opportunity with show-stopping potential.
- 253 sqm* building area.
- 484 sqm* land area.
- Commercial 1 zoning.
- Within the "Vermont Village Shopping Centre" precinct specifying a preferred maximum development height of 18m (5 storeys)
- 4 car spaces onsite.
- Returning $30,460.56 per annum net.
- Currently running within a 5-year contract until January 2025, together with an option of renewal for 5 years.
- 2 km* from Mitcham railway station.
- 20.4 km* from Melbourne CBD.
POINT OF VIEW:
This is an asset that knows what the judges are looking for and receives perfect 10s in return. Vermont is the ideal blend of residential and commercial, and this pocket boasts top-shelf amenities — making it a local-crowd favourite.
(Business as usual for Eastern Cheer and Dance Academy)
*Approx.
Pricing excludes GST