Twin Freehold Shops with Rear Block of Flats Offering Ability to Occupy with Income + Fixed Upside
Stonebridge Property Group is pleased to present 282-284 Burnley Street, Richmond, offered for sale via Public On-site Auction.
The property comprises the following on a freehold title:
- 2 freehold shops ready to be occupied and/or re-let
- Rear block of 2 x 1-bedroom whole floor apartments, both recently refurbished with car parking
The landholding is in the heart of Richmond’s dynamic mixed-use precinct, noting the immediate access to Melbourne’s most attractive inner-city homes and retail amenities.
Key highlights of the property include:
Freehold Shops
- Comprise a connected and open-plan retail opportunity that can be either continued as a conjoined offering or separated back into 2 individual shops
- Both provide rear access to Stafford Street as well as bathroom amenities
- Direct frontage to Burnley Street, which includes exposure to 11,200 passing vehicles daily**
Rear Block of Flats
- Comprise 2 x 1-bedroom dwellings which have recently been refurbished
- 4 x rear car parks, which are highly valuable in this precinct of Richmond
- Separate gas and electricity meters
Property Highlights
- Combined substantial landholding of 319 sqm* with significant scope for development upside via approved residential permit
- Expansive frontage of 10.4 m* to Burnley Street allows clever ground floor retail activation currently or any future development
- 2 rear dwellings are underpinned by an extremely low residential vacancy rate in Richmond, which has increased by 17% in the past 12 months, with an average vacancy rate timeframe of 16 days and 4,713 renters currently interested in Richmond^
- Join Richmond’s dynamic mix-use precinct, ideal for graphic designers, marketing agencies, architects, builders, developers, sound studios, family offices, engineers, plus more
- Ultra-connected location with an 88 out of 100 walk score, noting just 10 minutes via train to Melbourne CBD and 8 minutes via tram
- Providing holding income via rear dwellings
282-284 Burnley Street, Richmond, is for sale via Public On-site Auction on Thursday 27th June 2024 at 10:30AM (AEST). To obtain further information or to arrange an inspection, please contact the exclusive selling agents, Stonebridge Property Group.
Max Warren
0488 296 892
Dylan Kilner
0459 396 341
Chao Zhang ??
0411 625 068
Tony Sun ???
0432 022 868
* Approximate
** Source: vicroadsopendata
^ Source: realestate.com
Property Code: 968