Name: 687-705 High Street, PRESTON, VIC 3072
Address: 687-705 High Street , VIC, Preston, VIC, 3072
Telephone: +61 422 564 199

+13 Photos

SOLD

687-705 High Street, PRESTON, VIC 3072

Properties / Sold / Victoria / Preston

Development Potential

1. Property Summary

Property Type

Residential, Commercial

Land Area

14,815 m² (*approx)

Selling Method

EOI: Closing Thursday 23rd September 2021 at 2:00PM (AEST)

Show All

2. Property Highlights

AN INTERGENERATIONAL INVESTMENT WITH UNRIVALLED FUTURE DEVELOPMENT SCOPE

1.48HA* GATEWAY LANDHOLDING
TRIPLE NET LEASE TO ASX LISTED TENANT
$1,082,345 ANNUAL NET INCOME

CBRE Freestanding Retail Investments & CBRE Victorian Development Sites is pleased to present for your consideration the ‘Preston Toyota Site’, a land-rich intergenerational investment with unrivalled future development scope in Melbourne’s highly sought after inner north.

The property is best described as follows:

+Strategic 1.48ha* premium gateway corner site

+Triple street frontage to High Street (103m*), Regent Street (99m*) and William Street (25m*)

+Established quality improvements comprising 4,700sqm* motor vehicle showrooms, spare parts showroom/store, service centre, carwash and large hardstand area

+Leased to ASX listed Eagers Automotive (ASX:APE) with a market cap of over $4.2Billion.

+Strong net income of $1,082,345 p.a.* plus 3.5% annual increases

+Priority Development Zone (PDZ) promoting high density development (STCA).

+Positioned within Preston’s activity centre, only 250m* to Regent Train Station, 500m* to Woolworths & 600m* to Preston Market.

For Sale Via International Expressions of Interest Closing Thursday 23rd September 2021 at 2:00PM (AEST)

For further information please contact the exclusive sales and marketing agents at CBRE:

Nathan Mufale

+61 421 224 354

nathan.mufale@cbre.com.au

David Minty

+61 422 564 199

david.minty@cbre.com.au

Jing Jun (JJ) Heng 王敬君

+61 411 059 116

jj.heng@cbre.com.au

Remember to mention you found this property on DevelopmentReady