385 High St. P R A H R A N
FOR PRIVATE SALE
385 High P R A H R
385 High St. P R A H R A N
5 h St. A N
Contents 04
INTRODUCTION
06
EXECUTIVE SUMMARY
10
LOCATION
14
PROPERTY PARTICULARS
15
FLOOR PLAN
18
TENANCY DETAILS
22
SALE METHOD
3
Introduction Aston Commercial are pleased to offer
This outstanding property has presence!
385 High Street, Prahran for private sale.
The striking façade and architectural features set the tone for a beautiful and functional property. Immediately adjacent Victoria gardens the rear courtyard and upstairs rooms open to and have park views that will never be taken away.
4
Securely leased to Fourth Chapter and operated
This is an exceptional commercial property for your
as a café, the property seems purpose-built for
investment portfolio and Aston Commercial highly
the use. Outdoor dining, high vaulted ceilings
recommend for your serious consideration.
and stunning courtyard create the experience.
5
Executive Summary
385 High St. P R A H R A N
Secure Investment leased to established café operator. Superbly located in the heart of Prahran and immediately adjacent Victoria Gardens.
L E A S E D E TA I L S
LAND AREA
Current income of $98,548 pa on 5 year lease plus options
168 sqm*
BUILDING AREA
ZONING
208 sqm*
General Residential Zone (GRZ)
METHOD OF SALE
TERMS OF SALE
For private sale
10% Deposit with balance 30-60-90 days *approx.
EXCLUSIVE SELLING AGENTS
6
Liam Rafferty
Jeremy Gruzewski
Associate Director 0421 886 655 liam@astoncommercial.com.au
Executive Director 0422 211 021 jeremy@astoncommercial.com.au
Location Whether it’s catching a show at an independent theatre, clubbing until the early hours (or all hours if you so desire), or drinking and dining at one of the city’s hottest new venues, when it comes to revelry Prahran certainly doesn’t disappoint. This lively neighbourhood has the character and the stamina to keep you busy from day to night, to day again. Prahran offers a sophisticated dining scene and leafy residential backstreets. Between the shopping mecca of Chapel Street and the low-key cool of Greville Street with its record stores and boutiques, friendly Prahran still manages to possess a village-like feel. The shopping is first-rate and vintage fans can look to the delightful Chapel Street Bazaar where they’re likely to unearth a treasure or two amongst the store’s baroque spoils. While chic cafés are plentiful the numerous design studios and art galleries are a nod to the area’s creative past. Iconic Prahran Market further cements the neighbourhood’s reputation as one of Melbourne’s premier foodie destinations.
Median House price $1,779,000
Surrounding Suburbs:
10
Toorak
$5,380,000
South Yarra
$2,192,500
Armadale
$2,537,500
Malvern
$2,884,000
The rear courtyard & upstairs rooms have spectacular park views of Victoria Gardens.
Property Particulars Built to the front boundary, the stunning two storey property has an impressive façade that makes a statement. The ground floor provides an open plan dining area, fully fitted and functional kitchen, cool-room, amenities and stunning courtyard opening to Victoria Gardens. The first floor is currently used as staff and office amenities for the café operation and has a full bathroom and kitchen making it suitable for residential occupation.
T I T L E PA R T I C U L A R S
COMBINED LAND DIMENSIONS AND AREA
Volume 0407 Folio 813 Lot 1 on title plan 698679X
Street Frontage
6.2 metres*
Rear Boundary
6.2 metres*
Western Boundary
26.9 metres*
Eastern Boundary
27.1 metres*
Total Land Area:
168.22 sqm*
ZONING
General Residential GRZ
*approx.
14
Floorplan
385 High St. P R A H R A N
GROUND FLOOR
FIRST FLOOR 15
Securely leased to Fourth Chapter and operated as a café, the property seems purpose-built for the use. Outdoor dining, high vaulted ceilings and stunning courtyard create the experience.
Tenancy Details The property is being sold subject to a lease summarised as follows:
Trading Name:
Fourth Chapter Prahran Pty Ltd
Current Rent:
$98,548.86 NET pa
Lease Term:
Five (5) years 8th July 2021
Options:
Two further terms of five (5) years
Rent Reviews:
Fixed 4% annual increases and market review at option
Outgoings:
All statutory outgoings paid by tenant
O V E R V I E W O F T E N A N T:
Fourth Chapter Fourth Chapter is an established café balancing healthy options and a few indulgences. Open Mon- Friday – 7.00am to 3.30pm Saturday & Sunday 8.00am – 4.00pm www.fourthchapter.com.au
18
Sale Method
385 High St. P R A H R A N
METHOD OF SALE
TERMS OF SALE
For private sale
10% Deposit with balance 30-60-90 days
INSPECTIONS
CONTRACT OF SALE & V E N D O R S S TA T E M E N T
Strictly by private appointment with the exclusive selling agents.
Available upon request.
EXCLUSIVE SELLING AGENTS
22
Liam Rafferty
Jeremy Gruzewski
Associate Director 0421 886 655 liam@astoncommercial.com.au
Executive Director 0422 211 021 jeremy@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
