GormanKelly is pleased to offer 293 Waverley Road, Malvern East, for sale by auction on Thursday 23 March at 12 noon, on-site.

This is a rare opportunity to secure a short term leased retail investment with huge development upside.

We believe the most outstanding aspects of this property include:

- Single storey building with low site coverage and good rear access
- Land area 242m2* / Zoned commercial 1
- Significant future development potential (STCA) for an owner occupier, investor or developer
- Building area 56m2*
- Short term lease until 31st March 2018
- Currently returning $24,500* p.a. net plus GST
- Located in busy retail strip with tram on the doorstep on Waverley Road and only a short walk to both East Malvern and Carnegie Railway Stations
- Easy access Monash Freeway, Caulfield Racecourse, Monash University and Cabrini Hospital

The property is positioned within a vibrant local retail strip, strongly serviced by the dense surrounding residential catchments and heavy thoroughfare of passing traffic and pedestrians. A highly desirable location, positioned within the heart of residential suburbs of Glen Iris, Malvern and Armadale and within close proximity to Chadstone Shopping Centre, Caulfield Racecourse and Monash University Caulfield Campus, to name a few.