239-245 Koornang Road Carnegie, VIC 3163
Commercial 1 Zone
Tenanted Investment Details
Instructed To Sell - Solid Holding Income of $312,713*
Being 100% leased to long standing tenants, the property is a strong cash flow investment with the feature of redevelopment upside (STCA) and enjoys the benefits of demolition clauses in the current leases.
Glen Eira City Council are planning for an estimated 22,000 new residents, 9,000 households and 9,500 jobs over the next 15 years.
Properties of this quality, condition and calibre are becoming rare in this market. The area is a sought after growth corridor.
The investment would ideally suit an astute property investor and developer looking for a point of difference in their property portfolio.
Property Features Include:-
- Building Area | 806sqm* Over 2 Levels
- Land Area | 798sqm*
- Combined Street Frontage of 48m*
- Annual Return | $312,713 Per Annum Net *
- 4 Freehold Title Shops In Line
- Potential to build up to 4 Levels (STCA)
- Possible Future Uses Include: Childcare Centre, Student Residential Accommodation For The Nearby Monash University Caulfield Campus (STCA)
- Dual Street Frontage and Rear Lane Access
- Fully Leased to Long Standing Tenants
- Demolition Clauses Providing Dependable Upside
- Commercial 1 Zone (C1Z)
- Suit A Variety Of Uses (STCA)
To arrange an inspection or to obtain a copy of the information memorandum and legal documentation, please contact Paul Waterhouse or Mitch Rosam.
Property ID: 503240782Last Updated: 15 Aug 2019