11 Newton Street,
Cremorne, VIC 3121
Offices • Development Sites & Land
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D+O Property - South Yarra
Suite 10, Level 3, Como Centre, 299 Toorak RoadSOUTH YARRA, VIC 3141
11 Newton Street
Cremorne, VIC 3121
Map of 11 Newton Street
Creative Office Building with Upside
- Three-story office of 1,494 sqm*
- Commercial 2 zoned site of 1,063 sqm*
- Net Passing Income of $547k p.a.*
Dawkins Occhiuto are pleased to exclusively present for your consideration this exceptional opportunity to acquire 11 Newton Street, Cremorne.
The property comprises a high quality, three-storey office building which is currently 100% leased to Figurehead Construction, Energy Locals and Robert Luxmoore Project Management. With the current leases expiring in 2024-2025¹, the asset provides owner occupiers the opportunity to occupy the premises in the near-term.
The Commercial 2 zoned site of 1,063 sqm* offers the potential to be developed into a 9-level office (STCA), with significant holding income to provide security in the medium-term. Cremorne has rapidly become Melbourne’s hottest development commercial precinct and has garnered international acclaim due to its reputation as a precinct where major companies establish their headquarters.
Key features of 11 Newton Street include:
• Three-storey office with an NLA of 1,494 sqm* and 25 car bays
• 100% leased investment with a 1.4-year* WALE
• Quintessential Cremorne office with polished concrete floors, glazed façade and industrial-style fitouts
• Net Passing Income of $547,402 p.a.*
• 5-Star NABERS Energy Rating
• Significant site area of 1,063 sqm* with 22 metres* of frontage to Newton Street
• Flexible Commercial 2 zoning
• Located in the vibrant Cremorne precinct, a bustling area which is renowned for its thriving business and lively social scene
This exceptional property is offered for sale via Expressions of Interest campaign closing Thursday, 17 August 2023 at 3.00pm (AEST).
Please contact exclusive selling agents, Dawkins Occhiuto for more information.
*Approximately as at 1 July 2023
¹ Termination Clause: Pertaining to one lease, the landlord may exercise the termination additional provision for the further term of the lease. A break fee of $140,000 is payable by the landlord to the tenant if this clause is exercised.
STCA - Subject to Council Approval
The property comprises a high quality, three-storey office building which is currently 100% leased to Figurehead Construction, Energy Locals and Robert Luxmoore Project Management. With the current leases expiring in 2024-2025¹, the asset provides owner occupiers the opportunity to occupy the premises in the near-term.
The Commercial 2 zoned site of 1,063 sqm* offers the potential to be developed into a 9-level office (STCA), with significant holding income to provide security in the medium-term. Cremorne has rapidly become Melbourne’s hottest development commercial precinct and has garnered international acclaim due to its reputation as a precinct where major companies establish their headquarters.
Key features of 11 Newton Street include:
• Three-storey office with an NLA of 1,494 sqm* and 25 car bays
• 100% leased investment with a 1.4-year* WALE
• Quintessential Cremorne office with polished concrete floors, glazed façade and industrial-style fitouts
• Net Passing Income of $547,402 p.a.*
• 5-Star NABERS Energy Rating
• Significant site area of 1,063 sqm* with 22 metres* of frontage to Newton Street
• Flexible Commercial 2 zoning
• Located in the vibrant Cremorne precinct, a bustling area which is renowned for its thriving business and lively social scene
This exceptional property is offered for sale via Expressions of Interest campaign closing Thursday, 17 August 2023 at 3.00pm (AEST).
Please contact exclusive selling agents, Dawkins Occhiuto for more information.
*Approximately as at 1 July 2023
¹ Termination Clause: Pertaining to one lease, the landlord may exercise the termination additional provision for the further term of the lease. A break fee of $140,000 is payable by the landlord to the tenant if this clause is exercised.
STCA - Subject to Council Approval
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Cremorne, 3121 demographic data
The median household income for Cremorne is $2,959, 56% higher than Greater Melbourne's household income of $1,901. Cremorne has a younger age profile compared to the rest of Greater Melbourne (median age 32 vs 37). Property ownership data shows 65% of property owners in Cremorne have a mortgage.
2,158
Population
$2,959 per week
Median household income
32 years
Median age
Renters
Most residents
Families
Most households
D+O Property - South YarraSuite 10, Level 3, Como Centre, 299 Toorak Road
SOUTH YARRA, VIC 3141
SOUTH YARRA, VIC 3141
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