592-596 Smith Street Clifton Hill, VIC 3068
27 Jun 2018
Ideal City Fringe Corner Investment
- Occupied by National Retailer Petstock
- New 5 + 5 Year Lease
- Rare High Exposure Corner Investment
Savills is delighted to offer for sale this prime freehold retail building located at 592-596 Smith Street, Clifton Hill in a highly sought after position on the corner of Smith Street and Alexandra Parade. This property represents a fantastic opportunity to acquire a prominent asset leased to a secure tenant in the blue-chip city fringe suburb of Clifton Hill.
The key attributes of this fantastic property include:
• Prime corner retail freehold
• Valuable corner landholding of 529sq m*
• Two street frontages of almost 50 metres* plus rear laneway access
• Commercial 2 Zoning
• New 5 + 5 year lease from November 2017
• Current net rental of $126,531 pa*
• Occupied by Petstock with over 155 locations across Australia
• High exposure location with over 74,000 vehicles passing daily^
Given the record low interest rate environment, secure retail investments with quality tenants and fixed, built-in rental growth in established and highly sought after retail locations are in short supply and accordingly we highly recommend your consideration of this high profile retail investment.
592-596 Smith Street, Clifton Hill is For Sale by Public Auction Wednesday 27 June at 12 noon on-site.
Julian Heatherich - 0412 995 655
Nick Peden - 0402 011 266
Mark Stafford - 0404 401 053
Jesse Radisich - 0402 085 702
Property ID: 502833266Last Updated: 28 Aug 2018