Placed in North Melbourne's heritage-laced heart, this comprehensively updated commercial prize, currently leased to a long-term tenant, offers a landmark opportunity to secure blue-chip, inner city real estate with dependable income far into the future.
Currently occupied by a thriving financial services firm, lease details include:
-$150,000 +GST p.a. commencing on 01/07/2024 for five years
-Options for two additional, five-year terms (through to 2039)
-Market reviews upon conclusion of each term
-Yearly rent increases of up to 3% p.a.
-Tenant responsible for all outgoings (except any Land Tax)
Comprising a broad foyer, reception area, private offices, meeting/conference rooms, open cubicle areas, file storage, and break areas across a sleek and sophisticated, two-storey interior, the property makes clever use of its enviable rear frontage to Little Lothian Street, with a large loading dock, benefiting from container-height door clearance, ideal for staff parking or equipment storage.
Its location, zoning, footprint, and pair of frontages providing possibilities to repurpose in future and increase the block's density (STCA), the landmark property sits centrally among North Melbourne's famed culinary, retail, and afterhours scenes, with ever-energetic Errol Street just metres away. Rich with transport connections, trams, trains, and CityLink promise rapid access to the city centre and beyond, while Arden Street's recreation centre and longstanding oval, Flemington Road's major hospitals, the University of Melbourne, and Royal Park sit nearby.
Noteworthy points include:
- Land size: 245sqm approx.
- Mixed Use Zone (MUZ)
- Heritage Overlay (HO3)
- Long-term lease with dependable income
- Approx. 2.4km to Melbourne's GPO
