258A & 264
COMO PARADE WEST
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For Sale by Expressions of Interest closing Wednesday 18th of November 2020 at 3pm
258A & 264
COMO PARADE WEST
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Contents INTRODUCTION 04 EXECUTIVE SUMMARY
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LOCATION
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PROPERTY PARTICULARS
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258A COMO PARADE WEST PARKDALE
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264 COMO PARADE WEST PARKDALE
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MARKET SALES ACTIVITY
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SALE METHOD
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258A & 264
COMO PARADE WEST
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Introduction Aston Commercial are pleased to offer 258A & 264 Como Parade West, Parkdale for sale via Expressions of Interest campaign closing Wednesday 18th of November 2020 at 3pm. The two assets are offered individually, or as one collective portfolio. The picturesque properties are in the South-Eastern Bayside suburb of Parkdale, approximately 23km from the Melbourne CBD surrounded by the adjoining suburbs of Mentone & Mordialloc. The opportunities are nestled within a thriving boutique shopping strip home to fabulous cafes, local take away outlets and anchored by the Parkdale Train Station. The two properties sit on an inviting total envelope of 380sqm* of commercially 1 zoned land with additional space at the rear of each property to add further improvements. Collectively the assets represent excellent value with a combined income of $66,145 per annum* with scope for significant upside in rent due to a forthcoming rent review in early 2021. Aston Commercial given the income, outstanding tenants and tightly held location strongly recommend these properties for your serious consideration.
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Executive Summary PROPERTIES
LOCATION
258A & 264 Como Parade West, Parkdale.
Picturesque Beachside Local Retail Strip.
DESCRIPTION Executor Portfolio Sale of 2 select investments.
258A COMO PARADE WEST, PARKDALE
264 COMO PARADE WEST, PARKDALE
Tenant: Butcher Land Area: 190sqm* Building Area: 105sqm* (Retail), 7sqm* (Amenities + Store) Zoning: Commercial 1 (CZ1) Current Rental: $21,057 pa* *Approx
Tenant: Patisserie Land Area: 190sqm* Building Area: 94sqm* (Gnd Retail), 48sqm* (1st Office), 5sqm* (Amenities + Store) Zoning: Commercial 1 (CZ1) Current Rental: $45,088 pa*
METHOD OF SALE
TERMS OF SALE
For Sale by Expressions of Interest closing Wednesday 18th of November 2020 at 3pm.
10% deposit upon successful execution of Contract of Sale.
EXCLUSIVE SELLING AGENTS
Max Warren
Fred Nucara
Licensed Estate Agent 0488 296 892 max@astoncommercial.com.au
Director 0418 567 560 fred@astoncommercial.com.au 5
Parkdale 3195 Beachside Beauty Meets Vibrant Suburbia The beachside suburb of Parkdale with its glorious ocean views, stunning residential homes and thumping retail strip has certainly cemented itself as a must be destination in South-Eastern Melbourne. Parkdale is centralised around its main shopping precinct located on Como Parade West and anchored by the Parkdale Train Station. Within this area you will find all the cornerstones of a successful retail strip including bustling café’s, restaurants, take away outlets, pharmacies, and banks. Whether you’re walking the dog down the main drag in search of that morning coffee hit or rolling the arm over at the local Lawn Bowls Club, Parkdale has the electricity to match an inner city suburb but with the vibe of a coastal holiday destination.
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Parktone Primary School 1.6km
P A R K D A L E Calvary Health Care Bethlehem 450m C O
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258A 264 O
Parkdale Train Station 50m
Parkdale Secondary College 1.8km
Parkdale Primary School 850m
P A R A D E W E
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Parkdale Beach 800m
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Property Particulars
258A COMO PARADE WEST TITLE PARTICULARS
LAND DIMENSIONS AND AREA
258A Como Parade West, Parkdale Volume: 09563 Folio: 415 Lot 1 on Title Plan 133710M
Como Parade West Frontage: East Boundary: West Boundary: Rear Boundary: Total Land Area: *Approx
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5 metres* 36 metres* 36 metres* 5 metres* 190 sqm*
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264 COMO PARADE WEST TITLE PARTICULARS
LAND DIMENSIONS AND AREA
264 Como Parade West, Parkdale Volume: 08930 Folio: 126 Lot 1 of title plan 434855FF
Como Parade West Frontage: East Boundary: West Boundary: Rear Boundary: Total Land Area: *Approx
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5 metres* 37 metres* 37 metres* 5 metres* 190 sqm*
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258A
COMO PARADE WEST
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The Butcher Glenn and Maria are known to most within the Parkdale community. The two have serviced the local area with the highest quality meats since 2016. With no major supermarket within the suburb of Parkdale, Char Char Char is the attractive choice to source the very best organic meats and poultry. Two Strategic Bayside Locations: • Parkdale • Highett
Tenant
Char Char Char Butchers
Size
110 sqm
Per Sqm Rent $191.42 Total Rental pa $21,057 Lease Commencement 01/06/2016 Lease Expiry 31/05/2021
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Current Term
5 years
Further Option
5+5
Increases pa
CPI
264
COMO PARADE WEST
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The Patisserie Cafe A Coffee experience and High-End Patisserie specialising in Artisan Eclairs, handcrafted sourdoughs, ready to eat Baguettes, Parisian Croissants/Pastries. Two Strategic Bayside Locations: • Parkdale • Black Rock
Tenant
Flavours Patisserie Cafe
Size
144 sqm
Per Sqm Rent $313.11 Total Rental pa $45,088 Lease Commencement 24/08/2018 Lease Expiry 23/08/2023
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Current Term
5 years
Further Option
5+5
Increases pa
3%
Market Sales Activity
Sales Evidence Research
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284 Como Parade West Parkdale
268 Como Parade West Parkdale
276 Como Parade West Parkdale
Sale Price
$ 1,347,500
$ 1,100,000
$ 1,080,000
Date
22/03/2018 20/04/2020 18/07/2018
Rent (PA)
Vacant
$ 52,000
Vacant
Floor Area 151
150
Unknown
Land Area 207
161
175
PSM Build
$ 8,924
$ 7,333
Nil
PSM Land
$ 6,510
$ 6,832
$ 6,171
Rent PSM
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$ 347
Nil
Yield
0%
4.7%
Nil
Sale Method
METHOD OF SALE
TERMS OF SALE
For Sale by Expressions of Interest closing Wednesday 18th of November 2020 at 3pm
10% deposit upon successful execution of Contract of Sale
INSPECTIONS
CONTRACT OF SALE & VENDORS STATEMENT
Completed in a COVID-Safe Environment with Selling Agents
Available upon request
EXCLUSIVE SELLING AGENTS
Max Warren
Fred Nucara
Licensed Estate Agent 0488 296 892 max@astoncommercial.com.au
Director 0418 567 560 fred@astoncommercial.com.au
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DISCLAIMER This document has been prepared by Aston Commercial Pty Ltd for advertising and general information only. Aston Commercial Pty Ltd do not guarantee, warrant or represent that the information contained in this document is correct. Any interested party should undertake their own enquiries as to the accuracy of the information. Aston Commercial Pty Ltd excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damage arising therefrom. *Approximate
