Stonebridge Property Group is pleased to present for sale 89 Kingsway, Glen Waverley, an iconic corner in the most tightly held retail precincts in Melbourne.
The key highlights of the opportunity include:
- Prominent 368 sqm** corner building with invaluable 34 m* street frontage
- 5 year net lease to national fast food tenant Grill'd with 155+ restaurants nationally
- Annual income of $189,625* with fixed 4% annual rental increases
- Opposite the newly refurbished Glen Shopping Centre as well as $1 billion of forecasted development in the surrounding area
- Highly valuable future development potential of 6 levels (22 m^)
- Favourable Commercial 1 Zoning with potential for alternate uses including apartments, office, medical or child care (STCA)
- Only 110 m* away from Glen Waverley train station which serves as a major bus interchange and the train line itself provides connectivity to a variety of Melbourne's most prestigious suburbs and the CBD, also providing a consistent stream of customers into the retail zone
- 89 Kingsway's connectivity to all areas of Melbourne will be greatly enhanced by the proposed Suburban Rail Loop; a new underground rail network connecting Melbourne's suburbs
89 Kingsway, Glen Waverley presents a rare opportunity to acquire a Kingsway corner in arguably the most iconic retail strip in Melbourne.
89 Kingsway, Glen Waverley is offered for sale via Public On-Site Auction Thursday 8th December 2022 at 2:30pm (AEDT). To obtain further information or to arrange an inspection, please contact the exclusive selling agents, Stonebridge Property Group.
Nic Hage
0448 782 594
Rorey James
0439 400 081
Jacob Biviano
0416 088 586
Sarah Xi
0468 320 297
* Approximately
^ Design and Development Overlay Schedule 12
**Gross Building Area
Property Code: 539
