708 & 710
HIGH STREET ARMADALE
for sale by Public Auction on Thursday 16th June at 12 noon on-site
TWO PROPERTIES TO BE AUCT
CONTENTS
TIONED AS ONE!
04
INTRODUCTION
06
EXECUTIVE SUMMARY
08
WHY BUY?
10
LOCATION
18
PROPERTY PARTICULARS
19
FLOOR PLANS
22
TENANCY DETAILS
26
SALE METHOD
3
710
HIGH STREET
INTRODUCTION Aston Commercial in conjunction with Premier
This is a rare opportunity to acquire two
Commercial are pleased to offer 708 & 710 High
adjoining freehold titles in one of Melbourne’s
Street, Armadale to the market for sale by Public
most sought-after city fringe locations.
Auction on Thursday 16th June at 12 noon on-site.
Located on the southern side of High Street near the intersection of Orrong Road.
4
708
HIGH STREET
Currently leased, generating income from both
This is a prime opportunity to grow your
properties there is the potential to occupy or invest
investment portfolio with several long-term
but also to develop the site in the medium term
strategies these properties could unlock.
unlocking a modern mixed use development. We highly recommend for your serious consideration.
5
EXECUTIVE SUMMARY
Two single level freehold titles to be sold as one. Currently trading to two individual hospitality tenants operating as Street Talk Expresso & La Dolce Vita Pizza with a combined income of $81,500 pa.
LOCATION
LAND AREA
Ideally located just 7 kms south-east of the Melbourne CBD. Positioned on the Southern side of High Street near the intersection of Orrong Road, a location that caters for all things lifestyle.
708 High Street: 194 sqm* 710 High Street: 185 sqm*
BUILDING AREA
ZONING
708 High Street: 108 sqm* 710 High Street: 126 sqm*
C1Z - Commercial 1 Zone
METHOD OF SALE
TERMS OF SALE
For Sale by Public Auction on Thursday 16th June 2022 at 12 noon on-site
10% deposit with the balance payable in 60 days *approx.
EXCLUSIVE SELLING AGENTS
6
Liam Rafferty
Fred Nucara
Jason Perry
Associate Director 0421 886 655 liam@astoncommercial.com.au
Executive Director 0418 567 560 fred@astoncommercial.com.au
Director 0412 560 510 jason@premierc.com.au
WHY BUY?
Two individual titles to be sold as one
8
Flexible Commercial 1 – C1Z zoning allowing for future mixed use development (STPA)
Blue chip with majo to High
p location or exposure h Street
Rear laneway access with on-site parking
A plethora of options for buyers with the ability to occupy or hold and invest
9
LOCATION Armadale is located just 7 kms southeast of the city, sitting between the equally prestigious suburbs of Toorak and Malvern. High Street is a prominent retail strip of cafes, boutiques, galleries and health & beauty providers. Off the main roads you’ll find lush green residential streets and highly sought-after private schools. Armadale’s convenient and attractive location makes it a popular choice for younger people living an independent lifestyle. But it’s also a very established suburb and you’ll find many long-time locals living here too, either as a family or as empty nesters. For transport, a number of tram lines traverse the suburb, Toorak Railway Station and Armadale Railway Station are also easily accessible.
Median House price $2,635,000
Surrounding Suburbs:
Toorak
$5,000,000
Malvern
$3,050,000
Caulfield North
$2,525,000
Prahran
$1,767,500
Source www.realestate.com.au
10
Surrounded by some of Melbourne’s most well-known suburbs including South Yarra, Toorak and Malvern, Armadale has become one of the most sought after areas within the inner-city. This property’s location is hugely popular with immediate access to a wide range of commercial, residential and lifestyle destinations including:
Local Businesses • Orrong Hotel 20 m* • Kings Arcade 850 m* • Mount Erica Hotel 700 m* • Hawksburn Village 1.2 km* • Glenferrie Road Precinct 1.5 km* • Chapel Street Precinct 1.7 km* • Malvern Central Shopping Centre 1.9 km* • Prahran Market 2.4 km*
Transport • Toorak Railway Station 550 m* • Armadale Railway Station 700 m*
Recreation • Toorak Park 280 m* • Victoria Gardens 900 m*
Transport services this property like no other with a tram stop on the doorstop and its central location within a short stroll to either Armadale or Toorak Railway stations. With access to nearby Dandenong Road which services traffic into the city and out to the south-eastern suburbs via the iconic Chadstone Shopping Centre. High Street is a popular shopping destination where you will find high-end fashion retailers, well known eateries and many designer homeware businesses. 14
PROPERTY PARTICULARS
708 High Street
710 High Street
TITLE PARTICULARS
TITLE PARTICULARS
Volume: 08089 Folio: 450 Lot 2 on Plan of Subdivision 029593
Volume: 10695 Folio: 926 Lot 3 on Plan of Subdivision 029593
LAND DIMENSIONS AND AREA
LAND DIMENSIONS AND AREA
Front Premises
Front Premises
High Street Frontage
6.09 metres*
High Street Frontage
6.08 metres*
Laneway Frontage
5.90 metres*
Laneway Frontage
7.06 metres*
Depth Total Land Area
30.48 metres* 194 square metres*
Depth Total Land Area
30.48 metres* 185 square metres*
ZONING Under the City of Stonnington Planning Scheme the land is zoned Commercial 1 – C1Z
18
FLOOR PLANS
19
TENANCY DETAILS
708 HIGH STREET, ARMADALE The property is being sold subject to a lease summarised as follows: Tenant Business Name
La Dolce Vita
Current Rent
$34,778.04 pa + GST
Lease Term
Three (3) years
Lease Commencement
1st April 2021
Options
One further term of three (3) years
Rent Reviews
Fixed 3% annual increases
Outgoings
Paid by tenant
Longstanding and popular Armadale Takeaway Pizza Bar & Kitchen with a separate residence at the rear.
www.ldvpizza.com.au 22
710 HIGH STREET, ARMADALE The property is being sold with monthly tenancy. Tenant Business Name
Street Talk Espresso
Current Rent
$46,722.04 pa + GST
Lease Term
Month to month
Lease Commencement
17th July 2017
Options
Nil
Rent Reviews
Fixed 4% annual increases
Outgoings
Paid by tenant
Street Talk Espresso is a simple celebration of hospitality, with a relaxed and comfortable environment both in the courtyard and the front room. It is the perfect place to unwind from daily pressures and catch up with friends. Whilst enjoying flavours of extraordinary substance transcending ones tastebuds. www.streettalkespresso.com.au 23
SALE METHOD
METHOD OF SALE
TERMS OF SALE
For Sale by Public Auction on Thursday 16th June 2022 at 12 noon on-site
10% deposit with the balance payable in 60 days
INSPECTIONS
CONTRACT OF SALE & VENDORS STATEMENT
Strictly by private appointment with the exclusive selling agents.
Available upon request.
EXCLUSIVE SELLING AGENTS
26
Liam Rafferty
Fred Nucara
Jason Perry
Associate Director 0421 886 655 liam@astoncommercial.com.au
Executive Director 0418 567 560 fred@astoncommercial.com.au
Director 0412 560 510 jason@premierc.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
