291-293 Wattletree Road, MALVERN VIC 3144
Commercial Flexibility in Malvern
GormanKelly is pleased to offer 291-293 Wattletree Road, Malvern for sale by Auction on Wednesday 22nd August 2018, at 12 noon on-site.
This property presents the ultimate in commercial flexibility with the ability to owner occupy part of the premises now and fully occupy at expiry of the Lease on Level 1 as of March 2021. Alternatively, the building is well maintained and there is nothing to spend in order to renew the existing Lease or attract new tenants.
Ultimately, the property presents an excellent opportunity to develop with zoning that will allow for both residential and commercial outcomes (STCA).
We believe the most outstanding aspects of this property include:
â€¢ Two level standalone office/retail premises of 388m2* with large rear car park;
â€¢ Land area 460mÂ²* / Zoned Commercial 1;
â€¢ Ground Floor office/ retail space of 193m2* plus first floor office of 195m2* with independent entrances from
Wattletree Road and flexibility for use by one or two occupants;
â€¢ Ground Floor offered with vacant possession;
â€¢ First Floor leased to Collins Partners, currently returning $59,282* net per annum on a 3 year Lease expiring
28th February 2021 with no further Option to renew;
â€¢ Potential estimated total rental income of approximately $120,000* net per annum plus GST and outgoings;
â€¢ Suitable for owner occupiers providing the opportunity to immediately occupy the Ground Floor space and
Level 1 in March 2021;
â€¢ Exceptional development potential with 10m* wide frontage to Wattletree Road and rear laneway access;
â€¢ Low site coverage (approx 41%);
â€¢ Located within the busy and tightly held Wattletree Road retail precinct, close to public transport and Malvern
Central (1.4km) and in the heart of the Malvern Medical Precinct only minutes to Cabrini Hospital.
PROPERTY TYPE: Offices
BUILDING AREA: 388.00 m2
PRICE: Contact Agent
CAR SPACES: Large rear car park
CONTRACT TYPE: sale
August 22 2018, 12:00pm