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170-174 Abbotsford Street
North Melbourne VIC 3051
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Sold on 13 Dec 2023

170-174 Abbotsford Street North Melbourne VIC 3051

  • Development / Land
  • 557 m²
  • Sold

Rare Find

    FOR SALE BY EXPRESSIONS OF INTEREST CLOSING MONDAY 11TH DECEMBER AT 3PM

    We don't use the term "Rare Find" loosely.

    The versatility of use that this property offers is endless (STCA)!

    OWNER OCCUPIERS
    * Use as an inner suburb warehouse (that is rare)
    * Jointly run a business and live in
    * Maybe add a couple of light weight floors above to live where you work
    * Continue the use as a gallery

    DEVELOPERS
    * It is 557sqm* of land with a 10.5m* height limit
    * Flexible Mixed Use zoning
    * Ideal site dimensions and two street frontages

    INVESTORS
    * Leased to long-standing tenant: Gallerysmith
    * Rental at $83,200 per annum net (at March 2024)
    * Lease expiry March 2025 (no option)
    * Plenty of market rental upside
    * Tenant interested to stay

    All of the above are just ideas subject to council approval and whether or not the building is built to allow additional levels. However, continuing the theme of a rare find, the location can only be regarded as very accessible.

    * The CBD positioning is obvious
    * Close to two (2) exit/on ramps onto Citylink freeway which links to all the other freeways
    * Close to the new "West Melbourne" train station (soon to be completed)
    * Historic retail precinct at Errol Street

    And is it great to have some short-term income so there is no GST payable. However, the Art Gallery is a great use for the building and worthy of inspection.

    For further details or to arrange an inspection please contact:

    Julian Vautin 0420 406 660
    Matt Nichols 0418 186 488

    PLEASE NOTE:
    * All information and measurements are approximates. Please refer to Contract of Sale and/or Lease documentation. All images subject to copyright. Unauthorised use is strictly prohibited.

    EXPRESSION OF INTEREST

    Closing date and time11/12/2023 12:00
    Recipient nameAsk Agent
    Delivery addressAsk Agent
    Nichols Crowder Property Moorabbin
    Nichols Crowder Property Moorabbin
    358 South Rd
    Moorabbin, VIC 3189

    Property Highlights

    Date Sold13 Dec 2023
    Floor Area1,080 m²
    Land Area557 m²
    EnergyAsk Agent
    ParkingAsk Agent
    Property ID2018907324
    Category
    Last updated  14 Dec 2023
    Map for 170-174 Abbotsford Street North Melbourne VIC 3051
    Nichols Crowder Property Moorabbin
    Nichols Crowder Property Moorabbin
    358 South Rd
    Moorabbin, VIC 3189

    Property Highlights

    Date Sold13 Dec 2023
    Floor Area1,080 m²
    Land Area557 m²
    EnergyAsk Agent
    ParkingAsk Agent
    Property ID2018907324
    Category
    Last updated  14 Dec 2023

    Co-Agents

    Matt Nichols
    Matt Nichols
    Nichols Crowder Property Moorabbin
    Call
    0418 186 488
    Julian Vautin
    Julian Vautin
    Nichols Crowder Property Moorabbin
    Call
    0420 406 660

    More about 170-174 Abbotsford Street North Melbourne VIC 3051

    170-174 Abbotsford Street North Melbourne VIC 3051 is categorized as Land & Development Property. It has a floor area of 1,080 m² and a land area of 557 m². The listing ID for this property is 2018907324.

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