FOR PRIVATE SALE 450 GLEN HUNTLY ELSTERNWICKRD
CONTENTS 04 INTRODUCTION 06 LOCATION 18 PROPERTY PARTICULARS 08 FINANCIAL AND TENANCY DETAILS 10 MARKET SALES ACTIVITY 19 SALE METHOD 22 APPENDICES 450 GLEN HUNTLY ELSTERNWICKRD 3
INTRODUCTION 4
Aston Commercial are pleased to offer 450 Glen Huntly Road Elsternwick for Private Sale. This opportunity consists of a beautifully presented, refurbished and renovated period freehold shop with first floor dwelling and underdeveloped land to the rear with laneway access.
Sit back and enjoy the income and the steady increase in value the area is sure to provide and safe in the knowledge that there will be development upside in the future. Please contact Aston Commercial today to arrange your private inspection.
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The property is located in the funky and vibrant Elsternwick Village retail strip near the corner of Orrong Road directly opposite the new Coles supermarket, with a tram on its doorstep.
Benefiting from a solid lease to an established tenant, the acquisition will provide a secure investment in an area that is well established and highly sought after.
TERMS OF SALE 10% deposit with settlement in 60-120 days ZONING Commercial 1 LAND AREA 262 sqm* Premium Freehold Investment with development upside METHOD OF SALE Private Sale *approx. LOCATION Prime main road retail strip opposite Coles in Elsternwick Village EXCLUSIVE SELLING AGENTS Fred Nucara Executive Director 0418 567 fred@astoncommercial.com.au560 Rodney King Director of Agency 0422 839 rodney@astoncommercial.com.au870 450 GLEN HUNTLY ELSTERNWICKRD BUILDING AREA 98 sqm* EXECUTIVE SUMMARY 6
The property is located in the funky and vibrant Elsternwick Village retail strip near the corner of Orrong Road directly opposite the new Coles supermarket, with a tram on its doorstep.
ABOUT ELSTERNWICK Rich in heritage and history, Elsternwick is the South East’s gateway into the CBD as an exciting centre of cafés, venues, retail shops, offices, and culture. Commercial property, especially retail spaces, is what most businesses are looking for in Elsternwick’sElsternwick.main attraction is Glen Huntly Road precinct. Glen Huntly Road shops offer a vast array of multicultural dining including Jewish, Indian, Thai, Hungarian, Korean, Greek, Russian, and other fusion tastes. Bars and entertainment venues also feature prominently in Elsternwick, including being home to Classic Cinemas. Retail abounds ranging from Coles to novelty and niche trading including toys, books, telecommunications. Pharmacies, physiotherapy and doctor’s clinics are also on offer within the precinct. Elsternwick is one of the few retail precincts in the South East to have a dedicated tramline along its main road. In addition to business-toconsumer commercial property, Elsternwick comprises much of the Nepean Highway’s “motor city,” housing showrooms for Holden, Hyundai, Toyota, Lexus, and Mitsubishi. Sitting only 8km from the CBD and serviced well by public transport including a tram at the doorstep and Elsternwick Train station close by.
LOCATION 8
450 GLEN HUNTLY RD ELSTERNWICK Tenant Business Name Fazal Trader PTY LTD Trading As “Alev Alev” Current Rent $46,361 pa plus GST Lease Term Three (3) years Lease Commencement 25th April 2022 Options One further term of three (3) years Rent Reviews Annual 3% fixed increases Outgoings Paid by Creativetenant&innovative takes on Middle Eastern food and desserts which is a hit with locals looking for good food and especially popular for late night snacks. The property is being sold subject to a lease summarised as follows: TENANCY DETAILS 13
UNDER DEVELOPED LAND TO THE REAR WITH LANEWAY ACCESS
PROPERTY PARTICULARS TITLE PARTICULARS Volume: 03206 Folio: 134 Lot 1 on Title Plan 895389J LAND DIMENSIONS AND AREA Front Premises Glen Huntly Rd Frontage 5.5 metres* Depth 47.4 metres* Rear laneway frontage 5.5 metres* Total Land Area 262 square metres* ZONING Commercial 1 under the City Of Glen Eira planning scheme. *approx. 450 Glen Huntly Road, Elsternwick DESCRIPTION
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The property is a solid brick 2 storey period building presented in excellent condition. The property has had many parts renovated and refurbished in recent years. To the front is an open plan shop with food displays, cooking area and seating. There are new aluminium windows to the front that open to the street which benefits from street dining. Behind the shop are two large rooms for food preparation and cooking. Upstairs is an apartment with kitchen and bathroom. To the rear are separate male & female toilets a large cool room plus ample parking accessed via a laneway.
SUBURB PROFILE (source:12,395ABSEstimatedResidentPopulation2021*) Population 37YRS (source: ABS) Median Age $1871(source:ABS) Median HouseholdWeeklyIncome ELSTERNWICK $2,142,500 Median House CAULFIELDPrice $1,890,000 CAULFIELD NORTH $2,550,000 17
CONTRACT OF SALE & VENDORS STATEMENT Available upon request TERMS OF SALE 10% deposit with settlement in 60-120 days INSPECTIONS Strictly by appointment with the exclusive selling agents METHOD OF SALE Private Sale Premium Freehold Investment with development upside EXCLUSIVE SELLING AGENTS Fred Nucara Executive Director 0418 567 fred@astoncommercial.com.au560 Rodney King Director of Agency 0422 839 rodney@astoncommercial.com.au870 SALE METHOD 450 GLEN HUNTLY ELSTERNWICKRD 18
*Approximate
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.