30-38 Thistlethwaite Street South Melbourne VIC 3205

Savills is delighted to offer for sale this high quality office building located at 30-38 Thistlethwaite Street, South Melbourne. This striking two level office building is fully leased to a longstanding tenant and is ideally located in the heart of South Melbourne, close to Southbank and Melbourne's CBD, presenting an outstanding investment opportunity with significant future development potential.

The key attributes of the property include:

- A large, high profile office building of 1,055sq m*
- Highly valuable landholding of 884sq m* with three street frontages
- Capital City Zone 1 - providing significant future development potential
- Design and Development Overlay 30 provides current height potential of at least 18 levels (STCA)
- Fully leased to award winning business ´Arid Zone´, in operation since 1987.
- 5+5+5 year lease from May 2016 with fixed annual rental growth and demolition clause
- Current Net Rental: $156,060 per annum* + Outgoings & GST
- Significant future rental upside potential with market review in 2021
- Undercover parking for 7 vehicles
- Perfectly positioned on the cusp of the CBD within easy walking distance to South Melbourne Market, Crown Casino, South Wharf retail/dining precinct and more
- One of Melbourne´s most active and sought after development locations with countless surrounding projects underway

For further information, please contact:

Benson Zhou - 0458 488 888
Julian Heatherich - 0412 995 655