Position, potential - the only way is up!
GormanKelly is pleased to offer 1463-1465 Malvern Road, Glen Iris for Sale.
This rare offering provides investors and/or developers with the opportunity to secure a refurbished fully leased retail property located in a prime position within the heart of one of the area's leading local shopping centres with significant development upside.
We believe the most outstanding aspects of this property include:
- Fully leased and currently returning $103,336 per annum net approx.
- Double fronted high exposure retail tenancy leased for 5 x 5 years;
- Two refurbished office suites securely leased;
- Residential tenancy over two levels;
- Excellent exposure on busy Malvern Road with wide retail frontage;
- Significant land holding of 529 square metres approx with rear access and zoned Business 2;
- Excellent position within tightly held local retail strip comprising of mostly restaurants, boutiques and specialty stores;
- Trams at doorstep with Gardiner and Tooronga Train Stations only a short walk away;
- Easy Access to Monash Freeway (CityLink);
- Walk to vibrant and newly established Tooronga Village.
The property is located approximately 10km* east of the Melbourne CBD within the municipality of the Stonnington City Council. Malvern Road is a major arterial road that runs in from Prahran to Malvern East.
Malvern Road, Glen Iris is an established retail strip, strongly serviced by the surrounding dense residential neighbourhood and thoroughfare of traffic. The suburb of Glen Iris is Melbourne's Centre of Population1 and is supported by the typically affluent residents with high disposable incomes. The strip comprises of mostly restaurants, boutiques and specialty stores.
Furthermore the property is in close proximity to the following facilities:
- Trams at the doorstep in Malvern Road, a short walk to both Tooronga and Gardiner Train Station and extensive bus services within the surrounding area;
- Easy access to the Monash Freeway (CityLink);
- Close to Recreational Facilities such as Gardiner Park, Howard Dawson Reserve and Burke Road South Reserve;
- Walk to newly established retail Tooronga Village, comprising of 22 shops, caf?s and restaurants with strongly trading Coles and 1st Choice Liquor Superstore.
Lot/Plan No: 1/TP221975