RARE OFFICE / WAREHOUSE IN LOW SUPPLY PORT MELBOURNE WITH A LOT OF FUTURE UPSIDE.
POINT OF INTEREST:
An asset that towers over the others within your portfolio, and for good reason. This is an opportunity with many different outcomes.
Commercial Owner Occupiers & Investors;
In its current form you’ll have 299 sqm* of office / warehouse with roller door access and a 1st floor office component with a balcony overlooking the parklands and the city. If you’re looking for something slightly larger, why not use the permit currently in place to extend that office component out over the whole floor plate for a 4 metre high warehouse ground floor and a total building area out to 416 sqm*.
There is short term income currently on the property at $74,000 per annum leased to the building coming of next door as their site office. All temporary walls, temporary kitchenettes and racking will be removed upon their vacancy.
Developers;
Take advantage of the Capital City Zone 1 zoning and the current permit 10 levels of multi-level residential that include seven 3 & 4 bedroom large whole floor town residences overlooking the parkland and city on the 320sqm* of land in one of Melbourne’s finest commercial pockets, the Fisherman's Bend precinct. This could easily apply to the commercial office market in an area craving office space overlooking the parkland at JL Murphy Reserve that will make either campaign a sinch to lease or sell. Looking for confidence to pull that trigger? Just look directly at your neighbors currently in construction of a 12 level fully sold out residential apartment building due for handover in October 2023.
The pathway forward doesn’t stop there with a live, work and play scenario firmly on the cards via its zoning for the occupier looking to construct something very special for himself that could span out to 600m2 of maximum living and minor working space.
Let’s talk about surroundings. Getting to Melbourne’s port-side shore is as easy as taking the tram into the CBD, as both are within ten minutes from here, and the West Gate Freeway and Citylink are only a minute away.
- 299 sqm* of total building area.
- 320 sqm* of land area.
- 5 allocated on-site car spaces.
- Short term income on the property at $74,000 per annum to builder next door.
- All temporary walls, temporary kitchenettes and racking will be removed upon tenant vacating.
- A permit has been approved for a multi-level apartment complex consisting of 7 large 3 & 4 bedroom apartments.
- Another permit has been approved to extend the first-floor office.
- Capital city 1 zoning.
- 400 m* to the West Gate Freeway.
- 1.8 km* to the Citylink.
POINT OF VIEW:
Only green outlooks. With a 12-storey apartment project in construction next door, the proof of ROI is in the completely sold-out outcome they enjoyed.
*Approx.
Pricing excludes GST
Remember to mention you found this property on DevelopmentReady
Close
