19 COLEMAN PARADE. GLEN WAVERLEY
For sale by public auction on Thursday 24th February at 12:00pm on-site.
19 COLEMAN PARADE. GLEN WAVERLEY
CONTENTS 04
INTRODUCTION
06
EXECUTIVE SUMMARY
10
LOCATION
14
PROPERTY PARTICULARS
16
MARKET SALES ACTIVITY
18
FINANCIAL & TENANCY DETAILS
20
SALE METHOD
3
INTRODUCTION Aston Commercial are pleased to offer 19 Coleman Parade, Glen Waverley for sale by public auction on Thursday 24th February at 12:00pm on-site.
This opportunity consists of a securely leased retail premises offering good income with significant scope for future upside by either better utilising the rear land or developing the 244 sqm* property and adding upper levels STCA. This premium investment is leased to a well-known and experienced local hairdresser on a 3 year lease with options at $26,258 per annum NET. Sit back and enjoy the income with inevitable growth in land values the area is sure to provide, then at some point in the future you can take advantage of the upside potential. Aston commercial believes this property has unlimited possibilities and strongly encourages your serious consideration.
4
ENJOY THE INCOME WITH INEVITABLE GROWTH IN LAND VALUES IN THE AREA AND FUTURE UPSIDE POTENTIAL.
19 COLEMAN PARADE.
EXECUTIVE SUMMARY
GLEN WAVERLEY Single storey freehold property with rear access and off-street parking, located just off Blackburn Road near the corner of High Street Road.
LAND AREA
BUILDING AREA
244 sqm*
75 sqm*
LEASE DETAILS
ZONING
3 x 3 x 3 year lease from October 2019 on a rental of $26,258 per annum plus outgoings
C1Z - Commercial 1 Zone
METHOD OF SALE
TERMS OF SALE
For Sale by Public Auction on Thursday 24th February at 12:00pm on-site
10% deposit with settlement in 30 – 60 days from date of sale *approx.
EXCLUSIVE SELLING AGENTS
6
Rodney King
Liam Rafferty
Director of Agency 0422 839 870 rodney@astoncommercial.com.au
Associate Director 0421 886 655 liam@astoncommercial.com.au
LOCATION
GLEN WAVERLEY This south-eastern suburb is a familyfriendly jackpot of spacious houses with manicured gardens, good schools, great shopping, bustling cinemas, sporting facilities and tasty Asian eateries. Glen Waverley, situated around broad thoroughfares 20kms south-east of the CBD, has all the amenities a family could need – plenty of space, roomy houses, The Glen Shopping Centre, a nifty cinema complex and a selection of quality schools. Buses and trains service the area, which also has excellent major road and freeway access.
The Glen Shopping Centre Mount Waverley Shopping Village Chadstone Shopping Centre
Wesley College Glen Waverley Campus Holmesglen Glen Waverley Mount Waverley North Primary School Mount Waverley Secondary College
Syndal Station (Directly Opposite) Mount Waverley Station Glen Waverley Station
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11
PROPERTY PARTICULARS PROPERTY DESCRIPTION
ZONING
The property consists of an older style single level retail shop beautifully fitted out as a contemporary hair dressing salon. There is a small room to the rear for storage and washing. Behind the shop are various storage sheds. The property benefits from rear laneway access and off-street parking.
Commercial 1 Zoning
TITLE PARTICULARS Volume: 08121 Folio: 341 Lot 11 on plan of Subdivision 025689
14
LAND DIMENSIONS AND AREA Street Frontage
6.5 metres*
Depth
38 metres*
Total Land Area:
244 square metres*
*approx.
MARKET SALES ACTIVITY SUBURB PROFILE :
MEDIAN HOUSE PRICE $1,604,500 MEDIAN UNIT PRICE $880,000
19
BUY
GLEN WA
AVERLEY
COLEMAN PARADE.
FINANCIAL & TENANCY DETAILS
OVERVIEW OF TENANT Taking its name from the famous Roman square Piazza Navona, known as the “place to be”, Navona Salon is a modern and stylish Hair Salon in the heart of Glen Waverley. Artistic Director Rocco Congiu, with over 25 years experience as a fully qualified Hairdresser, created a casual relaxing salon in August 2004. With sleek modern design and the latest in equipment, customers can relax in comfort with state of the art massage chairs, complimentary beverages, and up to date periodicals. Our experienced team is accredited with current industry training and skills. Rocco, along with Creative Director Bianca and friendly team are available for any type of consultation.
TENANCY DETAILS
The property is being sold subject to a lease summarised as follows:
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Tenant
Gloss Group Pty Ltd trading as Navona Salon
Current Rent
$26,258 per annum NET
Term
3 years commencing October 2019
Further Terms
Two further terms of 3 years
Rent Reviews
Annual fixed 4% increases
Outgoings
All statutory outgoings are paid by the tenant
19 COLEMAN PARADE.
SALE METHOD
GLEN WAVERLEY
METHOD OF SALE
TERMS OF SALE
For Sale by Public Auction on Thursday 24th February at 12:00pm on-site
10% deposit with settlement in 30 – 60 days from date of sale
INSPECTIONS
CONTRACT OF SALE & VENDORS STATEMENT
Strictly by private appointment with the exclusive selling agents.
Available upon request
EXCLUSIVE SELLING AGENTS
20
Rodney King
Liam Rafferty
Director of Agency 0422 839 870 rodney@astoncommercial.com.au
Associate Director 0421 886 655 liam@astoncommercial.com.au
DISCLAIMER “Materials” refers to any representations, statements, documents, data, statistics, measurements, estimates, figures, calculations, projections, approximates or otherwise stated by Aston Commercial Pty Ltd whether verbally or in writing. The Materials have been collated to assist potential purchasers for advertising and general information only to assist potential purchasers to decide whether to proceed with further investigation in relation to the property or the land. The Materials provided by Aston Commercial does not constitute any offer or contract of sale and is not to be relied upon prior to signing any relevant contract. Any dimensions or measurements of the property or the land (internal and external) are approximates only and should not be relied upon before signing any contract. The potential purchaser must conduct investigations to satisfy themselves that any Materials provided are accurate. Aston Commercial excludes unequivocally all inferred or implied terms, conditions and warranties arising out of the Materials and excludes all liability for loss and damage arising therefrom. *Approximate
