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– 913 9 0
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A
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HIGH ST M A D A
FOR SALE BY EXPRESSIONS OF INTEREST CLOSING ON TUESDAY 28 SEPTEMBER 2021 AT 2PM ON-SITE
C O N T E N T S
04
Introduction
06
Executive Summary
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Location
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Suburb Profile
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Property Particulars
20
Tenancy Details
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Floor Plans
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Sale Method
3
909 High Street
909a High Street
I N T R O D U C T I O N Aston Commercial are pleased to offer 909-913 High Street, Armadale for sale via Expressions of Interest closing on Tuesday 28th of September 2021 at 2pm.
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909b Hig
gh Street
911 High Street
We strongly recommend these properties to add to your property portfolio. This fantastic collection of fully occupied properties offers investors an opportunity to acquire this landmark site prominently located within the thriving High Street retail strip.
913 High Street
With the certainty of secure multiple income streams today this property also has the flexibility of combining tenancies in the future with the ultimate goal of redeveloping to a high end Mixed Use development leveraging off its city fringe location, access to public transport and lifestyle settings. 5
E X E C U T I V E
S U M M A R Y
Five tenancies which include four prominent shopfronts to High Street and a basement tenancy entered from the rear laneway. A Premier retail position on the north side of High Street with significant street presence in the heart of affluent Armadale.
LAND AREA
BUILDING AREA
870 square metres*
973 square metres*
CURRENT RENT
ZONING
Combined income of $264,387* pa
Commercial 1 - C1Z
METHOD OF SALE
TERMS OF SALE
For Sale via Expressions of Interest closing Tuesday 28th September at 2pm
Deposit of 10% of the purchase price 60-90 days from the date of sale
*approx.
EXCLUSIVE SELLING AGENTS
Jeremy Gruzewski Director of Agency 0422 211 021 jeremy@astoncommercial.com.au 6
Fred Nucara
Liam Rafferty
Director 0418 567 560 fred@astoncommercial.com.au
Senior Sales Executive 0421 886 655 liam@astoncommercial.com.au
L O C A T I O N
LOCAL BUSINESSES • Kings Arcade • Beatty Avenue, Toorak • High Street, Armadale • High Street, Prahran • Glenferrrie Road, Malvern
EDUCATION • Armadale Primary School • King David School • Loreto Mandeville Hall • Lauriston Girls School • De La Salle College
TRANSPORT • Train - Armadale Railway Station • Tram - Route 6 High Street • Bus - Route 605 Kooyong Road
RECREATION • Toorak Park • Union Street Gardens • Armadale Reserve • Malvern Cricket Ground
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Armadale 3143
Armadale is located just 7 kms south-east 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, while Glenferrie Road is a little more casual. 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 $2,550,000
S U R R O U N D I N G
Toorak
$4,950,000
Malvern
$2,837,500
Caulfield North
$2,201,000
Prahran
$1,685,000
Source: REA 12
S U B U R B S
P R O P E R T Y
P A R T I C U L A R S
TITLE PARTICULARS
ZONING
Certificate of Title Volume: 07681 Folio: 122 Land Description Lots 1 & 2 on Title Plan 750856P
Under the City of Stonnington Planning Scheme the land is zoned Commercial 1 – C1Z.
Certificate of Title Volume: 07681 Folio: 123 Land Description Lots 1 & 2 on Title Plan 517083Y Volume: 07613 Folio: 048 Land Description Lots 1 on Title Plan 447674M
LAND DIMENSIONS AND AREA
High Street Frontage
30 metres*
Laneway Frontage
34 metres*
Railway Frontage
38 metres*
Total Land Area:
870 square metres*
*approx.
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The property is also subject to the following overlays: • DDO - Design And Development Overlay - Schedule 19 • HO - Heritage Overlay (Ho400)
T E N A N C Y
D E T A I L S
Investment Summary
$264,387* pa
5
Outgoings
100%
Combined Income
Individual Tenants
Paid by Tenants
Building Occupancy
The property is being sold subject to leases summarised as follows: 20
909 High Street
1. Infinite Cycle At Infinite Cycle we use bikes that tilt 22 degrees each way. Leaning, turning, steering and balancing with you, our bikes give you a revolutionary indoor riding experience. Not only do these bikes amplify the fun, they also eliminate the unnatural stresses on your joints, recruiting different muscles that you previously hadn’t in a spin class. You will burn approximately 20% more calories compared to conventional stationary bikes and specifically target core and upper body muscles previously not touched on the bike. www.infinitecycle.com.au/armadale/
Trading Name
Infinite Cycle
Rent
$70,000 pa + GST
Lease Term
Five (5) Years
Commencement Date
May 2021
Options
One further Five (5) Year term
Rent Reviews
3% annually
Outgoings
Paid by tenant 21
909a High Street
2. Compendium Gallery Available as an art gallery space for paintings, prints, sculptures, digital art forms and more! Other uses include: - function space for sit-down or stand-up events, pop up shops - meditation, yoga or fitness classes - photography studio/space. www.instagram.com/compendium.gallery
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Trading Name
Compendium Gallery
Rent
$65,000 pa + GST
Lease Term
Three (3) Years
Commencement Date
August 2020
Options
One further Two (2) year term
Rent Reviews
Fixed increases
Outgoings
Paid by tenant
3.
909b High Street
3. The Melbourne Compendium Operating as a specialist private Tattoo and Body Piercing Studio. www.instagram.com/the_melbourne_compendium
Trading Name
The Melbourne Compendium
Rent
$39,520 pa + GST
Lease Term
Three (3) years
Commencement Date
June 2020
Options
One further Two (2) year term
Rent Reviews
4% annually
Outgoings
Paid by tenant 23
911 High Street
4. Paragon Studio Paragon Studio is a mens barber shop located in the heart of Armadale, Melbourne. It was founded in 2017. The shop showcases its unique and now well known look with a team to match. “We strive to deliver the highest quality service, not just within the shop but within the industry.” www.paragonstudio.com.au
Trading Name
Paragon Studio
Rent
$44,867 pa + GST
Lease Term
Three (3) Years
Commencement Date
October 2020
Options Nil
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Rent Reviews
3% annually
Outgoings
Paid by tenant
913 High Street
5. Lowe Living Dedicated to delivering the highest level of client satisfaction, Lowe Living is one of Melbourne’s industry leading specialists in medium-density residential homes. Our clients inspire and inform our service, quality, architecture, design and connection to each project location. We are constantly adapting to new challenges, redefining expectations and outcomes as we strive to design and deliver the highest quality contemporary homes for our discerning clients. www.loweliving.com.au
Trading Name
Lowe Living
Rent
$45,000 pa + GST
Lease Term
Two (2) Years
Commencement Date
March 2021
Options
Three further One (1) year terms
Rent Reviews
3% annually
Outgoings
Paid by tenant 25
F L O O R
P L A N S
909 - 909a High Street, Armadale
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911 High Street, Armadale
913 High Street, Armadale
GROUND FLOOR
LWR GROUND FLOOR
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S A L E
M E T H O D
METHOD OF SALE
TERMS OF SALE
For Sale via Expressions of Interest closing Tuesday 28th September at 2pm.
Deposit of 10% of the purchase price 60-90 days from the date of sale.
INSPECTIONS
CONTRACT OF SALE & VENDORS STATEMENT
Strictly by private appointment with the exclusive selling agents.
Available upon request.
EXCLUSIVE SELLING AGENTS
Jeremy Gruzewski Director of Agency 0422 211 021 jeremy@astoncommercial.com.au 30
Fred Nucara
Liam Rafferty
Director 0418 567 560 fred@astoncommercial.com.au
Senior Sales Executive 0421 886 655 liam@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
