743 Centre Road, Bentleigh East, VIC 3165

Retail | Development/Land

For Sale

  • Property ID: 431267
  • Floor Area: 125m²
  • Land Area: 185m²
  • Occupancy: Tenanted
BUY INTO THE CENTRE OF BENTLEIGH WITH THIS FREEHOLD.

POINT OF INTEREST:

Double a traditional asset’s offer that will see acute investors benefitting in the same way. 743 is a commercial and residential blend where business at the front consists of a 55 sqm* retail shop front, while leisure out the back looks like a renovated two-bedroom home. No leasing campaign is necessary for either, as the current agreement for the retail space brings in $21,000 per annum net, while the home has just been leased for $19,296 per annum. Beyond the obvious investor advantages, there’s also plenty of development potential here — a purely ground-floor structure accommodates a lucrative multi-level extension in the future. And it makes sense when you look at the neighborhood. Centre Road has more than 14,000 passing cars visiting the vibrant retail precinct daily thanks to the multicultural independent eateries, big-name retailers, and village-style amenities. Public transport has also been considered here with buses aplenty and Bentleigh railway station down the road.

Front of house retail:
- Currently leased for $21,000 per annum net.
- Prior to the market review, the agreement includes 2 + 2 year lease that commence 1/9/2022.
- 55 sqm* total building area.
- 1 car space included.

Two-bedroom rear residential:
- 1 car space included.
- Just leased with a tenancy income of $19,296 per annum.
- Two bedrooms with freestanding robes.
- Renovated bathroom and kitchen with dishwasher and gas stovetop.
- Separate laundry and split system heating and cooling

- Commercial 1 zoning.
- More than 14,000* cars pass Centre Road daily.
- 1.8 km* to Bentleigh railway station.
- 16 km* to Melbourne CBD.
- Can be returned to a purely commercial tenancy in future by combining the rear and front retail.

POINT OF VIEW:

For marathon runners; sit on your passive investment with a combined annual income of roughly $40,000. For sprinters; develop something even bigger to earn more. For both; the race is on.

*Approx.
Pricing excludes GST

Additional Information
Features
  • Availability: Subject to a lease.
  • Lease Term: Retail: 2 + 2 years Resi: 1 year
  • Rent Review: Retail: 3% per annum.
  • Car Spaces: 2 at rear of site.
  • Condition: Excellent.
  • Air Conditioning: Yes.
  • Floors: Concrete / Floor boards.
  • Car Parking Fees: Nil.
Outgoings
  • Water Rates: $768 P.A. Approx.
  • Land Tax: $2,306 P.A Approx.
  • Council Rates: $2,200 P.A Approx.
  • Owners Corp. / Insurance: $1,300 P.A Approx.
Bentleigh East Suburb Profile

Average Advertised Price
Property Type Price (m²) Rent (m²/p.a.) Yield
Industrial --- $68 ---
Retail $7400 $268 3.62%
Offices $11628 $268 2.30%
This is the average advertised price, rent and yield for Bentleigh East, VIC 3165*

Days on Market
Time between initial ad placement and the listing’s withdrawal

Days on Market data for Retail in VIC for Sale

The spread of Days on Market is summarised into 4 time-bands (or quartiles) for each segment.
Understanding market expectations is skewed towards examining changes in the shortest duration quartile (fastest 25%)

Transactions per Month

* 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:

  • 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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