Stonebridge Property Group is pleased to present for sale 1-3 Cobden Street, North Melbourne.
The key highlights of the opportunity include:
- 1-3 Cobden Street stands as one of Australia’s most attractive city fringe freehold investments with unrivalled fundamentals and a position set for immense growth
- The unmissable building enjoys 32 m* of combined corner frontage providing valuable business exposure and an added level of flexibility for future development outcomes (STCA)
- 100% leased by hospitality institution ‘Yeonga Korean BBQ’ – the highly coveted tenant has occupied the property for over a decade, boast a huge following & a 4.5-star rating from 1,200+ Google reviews
- The property is leased on a 5-year term with favourable fixed 4% annual increases
- Favourable zoning, significant height precedent and potential site access by 2032 provide exciting future development/land bank opportunities (STCA)
- Set to benefit from major surrounding infrastructure projects, notably the $1.7 billion Queen Victoria Market upgrade that is expected to deliver 4000 new jobs and 20,000 new residents - an exciting driver of retail trade for local business
- Positioned on the edge of the CBD grid, just 50 m* from the globally recognized Queen Victoria Markets (that enjoys 10,000,000+ visitors annually) and 650 m* from the Melbourne Central Train Station
- Benefiting from one of Melbourne’s most generous zonings (Capital City Zone 5) - Schedule 61 to the Design and Development Overlay allows for a height limit on the site of 8-levels (24 m*)
1-3 Cobden Street, North Melbourne is offered for sale via Public On-site Auction Thursday 31st August 2023 at 1:30pm (AEST). To obtain further information or to arrange an inspection, please contact the exclusive selling agents, Stonebridge Property Group.
Nic Hage
0448 782 594
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Sarah Xi ???
0468 320 297
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Max Warren
0488 296 892
Rorey James
0439 400 081
*Approximately
Property Code: 730