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11 Newton Street
Cremorne VIC 3121
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Sold on 6 Sep 2023

11 Newton Street Cremorne VIC 3121

  • Offices
  • 1,494 m²
  • Sold

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

EXPRESSION OF INTEREST

Closing date and time17/08/2023 15:00
Recipient nameAsk Agent
Delivery addressAsk Agent
Dawkins Occhiuto
Dawkins Occhiuto
Suite 10, Level 3, Como Centre, 299 Toorak Road
South Yarra, VIC 3141

Property Highlights

Date Sold6 Sep 2023
Floor Area1,494 m²
Land Area1,063 m²
Energy5-star NABERS Energy rating
Parking25 x Onsite parkings
Building TypeWhole building
Property ID2018650379
Category
Last updated  14 Sep 2023
Map for 11 Newton Street Cremorne VIC 3121
Dawkins Occhiuto
Dawkins Occhiuto
Suite 10, Level 3, Como Centre, 299 Toorak Road
South Yarra, VIC 3141

Property Highlights

Date Sold6 Sep 2023
Floor Area1,494 m²
Land Area1,063 m²
Energy5-star NABERS Energy rating
Parking25 x Onsite parkings
Building TypeWhole building
Property ID2018650379
Category
Last updated  14 Sep 2023

More about 11 Newton Street Cremorne VIC 3121

11 Newton Street Cremorne VIC 3121 is categorized as Office. It has a floor area of 1,494 m². There are 25 x onsite parkings.The listing ID for this property is 2018650379.

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