617 Spencer Street West Melbourne VIC 3003

Cushman & Wakefield City Fringe Sales are pleased to present for sale 617 Spencer Street, West Melbourne, with the following key attributes:

Prime city fringe West Melbourne location, a short 3 minute (400m*) walk to North Melbourne Train Station and 1.1km* from the CBD.

Previously the White Crow Tomato sauce factory, this character filled building boasts a commanding total area of 948.68sqm* plus car parking for 6 vehicles on title.

Fully leased to 'Serve It Up', a well-established registered training organization (RTO) offering contemporary hospitality courses in Melbourne.

New three (3) year lease providing a current net income of $300,000 + GST + Outgoings p.a. with 3.00% annual compounding rental increases.

The building has been completely refurbished and comprises polished concrete floors, commercial kitchen facilities, classrooms, meeting rooms, updated fire services, new lift, excellent natural light from three sides and city views.

Surrounded by an abundance of retail and lifestyle amenity including Errol Street Retail Precinct, Queen Victoria Market (QVM) and Flagstaff Gardens all within convenient walking distance.

Favourable Mixed Use Zoning provides excellent flexibility for a variety of future use and repositioning strategies including subdivision, air rights, construction of additional levels or alternate uses such as residential, commercial, or more (STCA).

A rare opportunity to secure a high-profile inner city three (3) level warehouse office investment with brand new improvements and car parking. The full package set and forget!

For Sale by EOI closing Wednesday 27 November 2024 at 12.00pm (AEDT).

For more information please contact Cushman & Wakefield as the exclusive selling agent.

Oliver Hay | +61 419 528 540
Anthony Kirwan | +61 431 952 430
George Davies | +61 421 799 489