Phillips Arcade, 31-43 Puckle Street, Moonee Ponds, Victoria, 3039
A strategic and value add opportunity in one of Melbourne’s most iconic retail strips has recently been made available for sale. ‘Phillips Arcade’, on Moonee Ponds’ Puckle Street is home to 15 separate tenancies, currently returning $320,000 per annum, whilst advantageously including early termination and re-development clauses.
The site benefits from extensive work already undertaken, with approved plans and permits for the development of a 10-storey mixed use building comprising 84 apartments, 9 retail shops and office.
Melbourne Acquisitions’ Dominic Gibson and James Latos, in association with Allard Shelton’s James Gregson and Michael Ryan, have been appointed to sell the Phillips Arcade site in Moonee Ponds.
An established and iconic retail arcade in a desirable inner-city location
'Phillips Arcade', encompassing land just under half an acre (1,887sqm), features 14 retail shops and a large first floor office space. The site expands across 30m of street frontage and to the rear of the building (one of the last on Puckle Street to retain dual access) is space for 23 car parks.
Puckle Street itself is undergoing a substantial transformation, rejuvenating and expanding with the modern climate; the Philips Arcade site presents an opportunity to capitalise on the forecast growth. The approved permits reveal plans for a 10-storey building, comprising 84 apartments, 9 retail shops and an office.
Situated only 6km from Melbourne’s CBD, Moonee Ponds is bestowed with many quality assets and amenities; including schools, parklands, the Maribyrnong River and transportation.
With the benefit of an established retail and residential precinct, there is significant opportunity for strong return within this mixed-use project.
Puckle St, Moonee Ponds Summary
- Site area: 1,887sqm in a prime activity centre.
- DA Approved for a 10-storey mixed-use building, comprising 84 apartments, 9 retail shops and an office.
- Passing rent $330,000 p.a* with early termination and re-development clauses.
- Close proximity to schools, parklands, the Maribyrnong River, transportation, retail and more.
- Agents are currently receiving best offers: Enquire today to receive plans and to organise an inspection.
*Please note that all financials, measurements or distances quoted above are approximate only.
For further information please contact the Melbourne Acquisitions and Allard Shelton teams and mention Development Ready in your interactions.
Melbourne Acquisition
Dominic Gibson: +61 409 366 941
Steven Messina: +61 412 035 176
Allard Shelton
James Gregson: +61 421 516 480
Michael Ryan: +61 433 180 199
