Lemon Baxter and JLL Office Investments are proud to present Level 2, 431 St Kilda Road, Melbourne- a unique offering with a secure income stream, exceptional tenant retention, and premium office space in a highly sought-after location.
This fully leased property is available for sale via Expressions of Interest, closing Wednesday, 11th December 2024, at 12pm (AEDT).
Property Highlights:
+ Location: Iconic St Kilda Road, minutes from Melbourne's CBD.
+ Net Lettable Area: 1,664 sqm.
+ Car Parking: 24 designated spaces on separate titles.
+ Storage: 2 separate storage cages.
+ Current Income: $726,682* net per annum, with all outgoings (except land tax) recoverable, achieving a yield of over 10%.
+ Annual Rent Increases: Fixed at 3.5%.
+ Tenant: Bongiorno Management Services Pty Ltd, lease expiring September 2027.
+ Zoning: Commercial 1 Zone (C1Z).
Situated along Melbourne's premier business corridor, 431 St Kilda Road blends outstanding connectivity with nearby parks, dining, and retail options. The area is bolstered by nearly $2 billion in new luxury residential and hospitality developments, reinforcing its status as a premier destination. Notable projects include the $300 million Carter Building at 448 St Kilda Road and Gurner Group's $800 million apartment complex at 424 St Kilda Road.
The property's stable returns, reliable tenant, and strategic location position it as a standout investment in Melbourne's competitive commercial market.
Secure your place in Melbourne's evolving business landscape. Contact the agents to arrange an inspection or access detailed due diligence information.
Paul O'Sullivan (+61 412 410 366) paul@lemonbaxter.com.au
Hans Fan (+61 401 882 621) hans@lemonbaxter.com.au
Tim Carr (+61 415 767 915) tim.carr@jll.com
Josh Rutman (+61 411 27 37 46) josh.rutman@jll.com
Note: All figures above are approximate as at 31 December 2024
