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CHARMAN ROAD MENTONE
FOR SALE BY PUBLIC AUCTION FRIDAY 25TH OF MARCH 2022 AT 12PM ON-SITE
110 -118
CHARMAN ROAD MENTONE
Contents
2
04
INTRODUCTION
06
EXECUTIVE SUMMARY
10
LOCATION
12
PROPERTY PARTICULARS
13
FLOORPLAN
16
TENANCY DETAILS
18
RECENT MARKET ACTIVITY
22
SALE METHOD
110 -118
CHARMAN ROAD MENTONE
Introduction Aston Commercial is pleased to offer 110-118 Charman Road, Mentone for sale by Public Auction on Friday 25th of March 2022 at 12pm on-site. For the first time in over 30 years this rare slice of corner freehold Melbourne Bayside land is up for grabs. Located on the charming Charman Road retail strip, the property is surrounded by a basket of different shops including retail, beauty and hair, medical, restaurants and cafes. A corner site with 4 tenancies over 5 shops provides both an opportunity for investors seeking an investment or developers looking to add value over time. With a massive combined street frontage of 49 metres, this large parcel of land is located on the border of Mentone and Beaumaris. Less than 1 kilometre from Mentone Beach and 100 metres from Mentone Girls Secondary College, the corner site is well positioned for the current tenancies and creates a wide opportunity for future development (STCA). A fine property to add to any portfolio with great upside. Please contact Aston Commercial today to arrange your private inspection.
4
Executive Summary
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CHARMAN ROAD MENTONE A slice of bayside land comprising of 5 retail shops with rear parking/vacant land located in the retail strip of Charman Road in Mentone.
LOCATION
LAND AREA
Mentone, Melbourne Bayside
670 sqm*
RENTAL INCOME
TITLES
$75,245.95 pa
5 separate Titles offered as a whole
BUILDING AREA
ZONING
310 sqm*
Commercial 1 Zone (C1Z)
METHOD OF SALE
TERMS OF SALE
For Sale by Public Auction on Friday 25th of March 2022 at 12pm on-site
10% deposit with 60 day settlement *approx.
EXCLUSIVE SELLING AGENTS
6
Sebastian Origlia
Fred Nucara
Agency Executive 0428 056 294 sebastian@astoncommercial.com.au
Executive Director 0418 567 560 fred@astoncommercial.com.au
BAYSIDE, MENTONE
Location
MENTONE The suburb of Mentone is located 21 kilometres south-east of Melbourne on the Port Phillip Bay Peninsula between Beaumaris and Parkdale. This beach town is subject to a variety of features such as Mentone Station, Mentone Beach, Mentone Racecourse, Mentone Grammar School, Mentone Centre shopping precinct and more. Charman Road in particular crosses the Nepean Highway and Balcombe Road acting as a throughfare to Mentone Beach. Along the mainly residential road, few commercial strips are offered where a variety of businesses operate. Mentone has a strong transport system with the Frankston Train Line passing through the new Mentone Station and bus routes which stretch throughout the suburb. Mentone has established solid infrastructure through schools, beaches, transport and shopping precincts which have driven the average median house price to $1,400,000.
110 -1
CHARM ROA MENT
The Mentone Shopping Centre Nepean Highway Balcombe Road Mentone Girls’ Secondary College Mentone Grammar School St Bede’s College Mentone Primary School Mentone Station Bus Routes 923, 811, 812 and 825 Mentone Beach Mentone Reserve Mentone Activity Hub
10
118
MAN AD ONE
Property Particulars TITLE PARTICULARS
LAND DIMENSIONS AND AREA
The 5 Titles are legally summarised as follows:
Combined Street Frontage:
Certificate of Title Volume: 10353 Folio: 842 Lot 5 on Plan of Subdivision 332341V Certificate of Title Volume: 10353 Folio: 841 Lot 4 on Plan of Subdivision 332341V Certificate of Title Volume: 10353 Folio: 840 Lot 3 on Plan of Subdivision 332341V Certificate of Title Volume: 10353 Folio: 839 Lot 2 on Plan of Subdivision 332341V
49 metres*
Charman Road Frontage:
27.1 metres*
Depth:
27.4 metres*
Total Land Area:
670 square metres*
*approx.
ZONING Commercial 1 Zone (C1Z)
Certificate of Title Volume: 10353 Folio: 838 Lot 1 on Plan of Subdivision 332341V
SUBURB PROFILE
BUY
12
RENT
Median House Price
$ 1,377,000
Median House Price
$ 620pw
Median Unit Price
$ 662,999
Median Unit Price
$ 390pw
Floorplan
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CHARMAN ROAD MENTONE
13
Tenancy Details
Leases which provide a combined rental income of $75,245.95 pa are:
Bayside Nails Co Bayside Nails Co is a nail salon which caters to a customer base within Mentone. First opening its doors in 2019 with a fresh fit-out, the business has just exercised its second option due to the popularity of the shop with many customers from Mentone Girls Secondary College only 100 metres away. www.instagram.com/baysidenailco
Tenant:
Bayside Nails Co (110 Charman Road, Mentone)
Current Rent:
$14,419.91 p.a.
Term:
2yrs + 2yrs + 2yrs
Commencement:
April 2019
Rent Reviews:
3% Increases
Outgoings:
Paid by tenant
TSD Laundrette TSD Laundrette is a laundromat which has operated for 5 years now and offers a variety of washing machine sizes to cater for various items such as clothing, doonas, sheets, rugs, curtains, etc. with emphasis on being environmentally friendly, the tenant adds a great feature to Charman Road. www.tsdlaundrette.com.au
16
Tenant:
TSD Laundrette (112 Charman Road, Mentone)
Current Rent:
$15,398.84 p.a.
Term:
3yrs + 3yrs + 3yrs
Commencement:
November 2017
Rent Reviews:
CPI
Outgoings:
Paid by tenant
Pheobe and Lulu Pheobe and Lulu is a lifestyle store with an online presence that stock a variety of items from homewares, gifts, baby goods and clothing with emphasis on ethical and sustainable brands being sold. The store opened in 2019 and through lockdown renewed their lease. www.pheobeandlulu.com
Tenant:
Pheobe and Lulu (114 Charman Road, Mentone)
Current Rent
$12,979.20 p.a.
Term:
3yrs + 3yrs + 3yrs
Commencement:
October 2021
Rent Reviews:
4% Increases
Outgoings:
Paid by tenant
Maitland Group Maitland Group is an independent boutique real estate agency. With its strategically positioned office, the Maitland Group team handles sales and rentals across the metropolitan area. The name has been synonymous with real estate results in the area since 1979. www.maitlandgroup.com.au
Tenant:
Maitland Group (116-118 Charman Road, Mentone)
Current Rent:
$32,448.00
Term:
3yrs
Commencement:
October 2019
Rent Reviews:
N/A
Outgoings:
Paid by tenant
17
Market Sales Activity
88 Charman Road, Mentone VIC 3194 Sale price:
$1,200,000
Land area:
370sqm*
Land psm:
$3,243
Yield:
N/A
99-103 Charman Road, Beaumaris VIC 3193
18
Sale price:
$2,400,000
Land area:
750sqm*
Land psm:
$3,200
Yield:
N/A
336 Balcombe Road, Beaumaris VIC 3193 Sale price:
$1,260,000
Land area:
220sqm*
Land psm:
$5,727
Yield:
3.79%
86-88 Chesterville Road, Cheltenham VIC 3192 Sale price:
$1,410,000
Land area:
371sqm*
Land psm:
$3,801
Yield:
4.17%
19
Sale Method
110 -118
CHARMAN ROAD MENTONE
METHOD OF SALE
TERMS OF SALE
For Sale by Public Auction on Friday 25th of March 2022 at 12pm on-site
10% deposit with 60 day settlement
INSPECTIONS
CONTRACT OF SALE & VENDORS STATEMENT
Strictly by private appointment with the exclusive selling agents.
Available upon request.
EXCLUSIVE SELLING AGENTS
Sebastian Origlia
Fred Nucara
Agency Executive 0428 056 294 sebastian@astoncommercial.com.au
Executive Director 0418 567 560 fred@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
