For Sale by Expressions of Interest closing Wednesday 23rd March at 3PM
193-195 GLENFERRIE ROAD & 86-92 Union Street
MALVERN
CONTENTS 04 INTRODUCTION 06 EXECUTIVE SUMMARY 10 LOCATION 11
SUBURB PROFILE
14
TENANCY DETAILS
20 PROPERTY PARTICULARS 26 SALE METHOD
193-195 GLENFERRIE ROAD & 86-92 Union Street
MALVERN
193-195 GLENFERRIE ROAD & 86-92 Union Street
MALVERN INTRODUCTION Aston Commercial in conjunction with Fitzroys are pleased to offer 193-195 Glenferrie Road & 86-92 Union Street, Malvern For Sale by Expressions Of Interest closing Wednesday 23rd March at 3pm. This once in a generation opportunity comprises a secure investment prominently located on the corner of Glenferrie Road and Union Street moments from the intersection of High Street in a prestigious and affluent suburb. The property is leased to a diverse range of six established tenants including five ground-floor shops and a first-floor office spanning the whole upper level. The tenancy mix in addition to the exceptional and tightly held location, makes this an outstanding investment for your property portfolio. As exclusive selling agents, we highly recommend this remarkable asset for your serious consideration. Please contact one of the conjunctional agents to secure your private inspection.
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193-195 Glenferrie Road & 86-92 Union STREET, Malvern
EXECUTIVE SUMMARY 193-195 GLENFERRIE ROAD & 86-92 Union Street
MALVERN High-profile two-story corner building with multiple tenancies in premium suburban retail strip.
LAND AREA
BUILDING AREA
336 sqm*
460 sqm*
ZONING
LEASE
Commercial 1
Current combined income of $309,776.54 per annum
METHOD OF SALE
TERMS OF SALE
For Sale by Expressions of Interest closing Wednesday 23rd March at 3pm
10% deposit with settlement in 60-90 days
*approx.
Exclusive Selling Agents:
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Jeremy Gruzewski 0422 211 021
Chris Kombi 0438 156 236
Rodney King 0422 839 870
Mark Talbot 0409 222 411
193-195 Glenferrie Road & 86-92 Union STREET, Malvern
Dominant corner position with combined frontage of 54 metres*
Positioned Amongst Coles and National Tenants
LOCATION 193-195 Glenferrie Road & 86-92 Union Street, Malvern is prominently located on the corner of Union Street moments from the intersection of High Street in the highly desirable suburb of Malvern. The property benefits from its prime trading position along the established and strongly supported Glenferrie Road retail precinct. This prime location is serviced by various public transport options including immediate access to tram services and a short walk to Malvern railway station.
There are a plethora of major tenants surrounding the property including Coles, Dan Murphy’s, Chemist Warehouse and all major banks along with a mix of national retailers and local specialty traders. The property is close to many of Melbourne’s leading schools and universities including De La Salle, Malvern Central Primary, Lauriston, Loreto, Armadale Primary, Sacre Couer, Korowa Girls School, Caulfield Grammar and Monash University.
Malvern, located less than 10kms south-east of the city, is a green and relatively expansive suburb situated just next to Armadale and Caulfield. It’s a well-established and well-heeled area with period homes, plenty of schools, a good swim centre, bustling shopping strips, excellent transport and the newly revamped Malvern Central shopping centre.
Some highlights in the area include:
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Malvern Central
High Street Shopping Strip
Chadstone Shopping Centre
Malvern Town Hall
Union Street Gardens
Malvern Cricket Ground
Harold Holt Swim Centre
Cabrini Hospital
193-195 Glenferrie Road & 86-92 Union STREET, Malvern
SUBURB PROFILE
THE LIFESTYLES AND PEOPLE OF MALVERN The lifestyle of a suburb is often influenced by who lives there. Malvern’s spacious, older-style homes and plentiful green spaces make it a popular area for people raising families, but its relative proximity to the city, its picturesque streets and cafe lifestyle also makes it a popular choice for young singles too.
18.7%
14.5%
OLDER COUPLES & FAMILIES
ESTABLISHED COUPLES & FAMILIES
13.1% INDEPENDENT YOUTH Source: realestate.com.au as of 1/2/2022 193-195 Glenferrie Road & 86-92 Union STREET, Malvern
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Malvern has a significant median house price of $2,884,00
TENANCY DETAILS ADDRESS TENANT
AREA SQM
LEASE TERM
FURTHER TERM
193 Glenferrie Rd
Urban Man
38
5yrs
Nil
195 Glenferrie Rd
Cannings Butchers
44
8yrs
Nil
90 Union St
Peter Cat Cafe
45
3yrs
1x4yrs
88 Union St
Melanie K Hair
48
3yrs
Nil
86 Union St
C-Free Day Spa
44
3yrs
1x3yrs
L1/92 Union St
S&K Group
241
5yrs
1x2yrs
Current combined income: $309,776.54 per annum plus outgoings and GS
S&K Group
Urban Man Cannings Butchers
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193-195 Glenferrie Road & 86-92 Union STREET, Malvern
COMM DATE
LEASE RENTAL SECURITY EXPIRY
RENT REVIEWS
01.03.22
28.02.27
$ 50,000.00
3mths rent +GST
3% annual
01.05.20
31.01.28
$ 68,132.52
3mths rent +GST
4% annual
01.11.21
30.10.24
$ 37,326.81
2mths rent +GST
4% annual
01.02.21
31.01.24
$ 34,369.17
2mths rent +GST
4% annual
20.09.21
19.09.24
$ 25,000.00
3mths rent +GST
3% annual
01.02.21
31.01.26
$ 94,948.04
2mths rent +GST
3% annual
ST (excluding land tax).
Peter Cat Cafe
Melanie K Hair
C-Free Day Spa
193-195 Glenferrie Road & 86-92 Union STREET, Malvern
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S&K GROUP L1/92 Union Street S&K Group is a multi-disciplinary firm providing architecture, construction and project management solutions to clients who appreciate finely crafted projects. We believe in always delivering a quality outcome whilst exceeding expectations and delivering value throughout all aspects of a project’s development.
URBAN MAN
PETER CAT CAFE
193 Glenferrie Road
90 Union Street
Urban Man Barbers & Supplies represent the highest quality cuts and accessories for the men of Melbourne. Paving the way as industry leaders of our craft. Our stores represent a modern take on the old school Barber shop while offering more than just a cut, but rather a deluxe Men’s experience in a modern environment.
A well regarded cafe serving the local community with a quality selection of food choices, delicious cakes and premium coffee in a homely space with outdoor dining.
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193-195 Glenferrie Road & 86-92 Union STREET, Malvern
CANNINGS BUTCHERS 195 Glenferrie Road Cannings was built from the ground up, fuelled by Sam Canning’s love of good food and his desire to raise the industry bar and improve animal welfare standards. Since 2010, Cannings’ philosophy has been embraced and supported by the Melbourne community. Years on, the business has grown, and we’re incredibly grateful to have such an amazing network of free range producers and a team of staff who represent Sam’s core values.
C-FREE DAy SPA
MELANIE K HAIR
86 Union Street
88 Union Street
C-Free Day Spa provides an array of pampering services. These include facials, reflexology, moxibustion and a range of massages. Pamper packages are also available. The salon is located in Malvern.
Melanie K Hair Salon is an intimate boutique hair studio in Armadale. With the talented duo of Michelle and Melanie at the helm, Melanie K Hair Salon has built a reputation in Melbourne’s East for delivering healthy and luscious hair for happy clients since their inception.
193-195 Glenferrie Road & 86-92 Union STREET, Malvern
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Prominent Corner Position
PROPERTY PARTICULARS PROPERTY DESCRIPTION The site is rectangular in shape encompassing a total land area of 336 sqm* with frontage to Glenferrie Road of 9.14 metres* and Union Street of 36.57 metres* plus rear laneway access. The property consists of a well constructed, solid brick two storey corner building comprising a total of six (6) tenancies; five (5) ground floor shops and a first floor office over a total lettable area of 460sqm*. There are also two (2) on-site car spaces and a secure garage.
TITLE PARTICULARS Volume: 08335 Folio: 070 Lot 1 on title plan 327125T
LAND DIMENSIONS AND AREA Glenferrie Road Frontage
9.14 metres*
Union Street Frontage
36.57 metres*
Laneway Frontage
9.23 metres*
Total Land Area:
336 square metres* *approx.
ZONING The property is within a Commercial 1 Zone under the Stonnington City Council Planning Scheme.
MALVERN Median House Price Median Unit Price
ARMADALE $2,884,000 $740,000
Source: realestate.com.au as of 1/2/2022
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193-195 Glenferrie Road & 86-92 Union STREET, Malvern
Median House Price Median Unit Price
$2,537,500 $699,750
193-195 Glenferrie Road & 86-92 Union STREET, Malvern
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SALE METHOD
193-195 GLENFERRIE ROAD & 86-92 Union Street
MALVERN
METHOD OF SALE
TERMS OF SALE
For Sale by Expressions of Interest closing Wednesday 23rd March at 3pm
10% deposit with settlement in 60-90 days
INSPECTIONS
CONTRACT OF SALE & VENDORS STATEMENT
Strictly by appointment with the exclusive selling agents
Exclusive Selling Agents:
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Available on request
Jeremy Gruzewski 0422 211 021
Chris Kombi 0438 156 236
Rodney King 0422 839 870
Mark Talbot 0409 222 411
193-195 Glenferrie Road & 86-92 Union STREET, Malvern
Disclaimer “Materials” refers to any representations, statements, documents, data, statistics, measurements, estimates, figures, calculations, projections, approximates or otherwise stated by Aston Commercial Pty Ltd & Fitzroys 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 & Fitzroys 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 & Fitzroys 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
