Entry Level Freehold With All Of The Upside.
POINT OF INTEREST:
On paper, this is an accessible entry point into Bayside’s fiercely localised and lucrative market. On closer inspection, this may be Cheltenham’s most strategic dark horse — with everything from park frontage to residential development heading to the skies. And all with a freehold title. That’s right – no owners corporation here.
Mixed-use in every sense of the term, the building itself has been built for retail use amongst this local strip. As a freehold title, the lot comes to 214 sqm* to play with, a 72.5 sqm* building, and a difference of 142 sqm* of additional land at the rear. To be sold with vacant possession, there’s no other vacancy in the area with a local pizza and pasta joint, a bakery, a pet groomer, Bottlemart, and a yoga studio. The classic localized retail strip.
The rear right of way access behind the shops makes for exceptional access to future development of the rear land. Invest now, develop a little later. We could see a retail offering on the ground floor with a boutique residential build behind, climbing to a two-level height to enjoy the views of the oval and over to the golf course. You wouldn’t be the first; the neighbour to the left has completed exactly that. And when you can say that you have Mentone Beach, the Frankston line, and Southland Shopping Centre within your one-kilometre orbit, the marketing campaign wouldn’t last a day.
- 72.5 sqm* total building area.
- 142 sqm* of additional vacant land.
- Freehold title: 214 sqm* total land area.
- Rear right of way access.
- Commercial 1 zoning.
- Strong development potential for retail on-ground and residential of 2 levels.
- Strong development precedence next door.
- Located opposite Jack Barker Oval, home to Cheltenham Football and Cricket Club.
- 1 km* to Nepean Highway.
- 700 m* from Cheltenham railway station.
- 1.5 km* to Mentone Beach.
- 1.3 km* to Southland Shopping Centre.
POINT OF VIEW:
A park-fronting package with a six-point lead over the competition. The price point gives an advantage left, right, and centre, and now every kind of savvy Cheltenham buyer has skin in the game
*Approx.
Pricing excludes GST