242-244 Springvale Road,
Glen Waverley, VIC 3150

This landmark opportunity is located opposite The Glen shopping Centre and offers buyers an unrivaled opportunity to capture some of the best real estate in Melbourne's East. This profile corner parcel looks over the 500 million dollar upgrade of the Glen Shopping Centre and is positioned within the Glen Waverley high density structure plan.
Strong, reliable income is being generated from ‘Waverley Medical Centre' as the sole tenant, adding to the overall attractiveness of the property. With passing income of $297,052 per annum and impressive development potential (STCA) to the advantage of investors and developers alike in a suburb which has historically seen some of Melbourne's strongest property growth.
Major benefits include:
• Established medical clinic operating for over 30 years
• Initial return of $297,052 per annum plus outgoings plus GST with annual increases of 3%
• Term 5 years until 31/3/2022 with options for two further terms of 5 years
• Building Area 613m2*
• Land Area 1,504m2*
• Licensed for 6 medical practitioners
• 22 on-grade car spaces
• Zoned GRZ8 with Design & Development Overlay allowing for up to 4 levels or 13.5m (STCA)
• 30m from "The Glen" Shopping Centre with pedestrian crossing nearby
• 250m from Glen Waverley train and bus station

Appealing to both investors and developers, all will agree that such a substantial land holding with excellent passing income is a rare and unique opportunity.

We welcome all offers by way of expressions of interest, closing Friday 28th June at 3:00pm.

*MEASUREMENTS ARE APPROXIMATE ONLY