450
GLEN HUNTLY RD E L S T E R N W I C K
FOR SALE BY PUBLIC AUCTION ON THURSDAY 11TH AUGUST AT 12PM ON-SITE
450
GLEN HUNTLY RD E L S T E R N W I C K
CONTENTS 04
INTRODUCTION
06
LOCATION
18
PROPERTY PARTICULARS
08
FINANCIAL AND TENANCY DETAILS
10
MARKET SALES ACTIVITY
19
SALE METHOD
22
APPENDICES
3
INTRODUCTION Aston Commercial are pleased to offer 450 Glen Huntly Road, Elsternwick for Sale by auction on Thursday 11th August at 12pm on site. 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. 4
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.
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.
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.
Please contact Aston Commercial today to arrange your private inspection.
5
EXECUTIVE SUMMARY
450
GLEN HUNTLY RD E L S T E R N W I C K
Premium Freehold Investment with development upside LOCATION
LAND AREA
Prime main road retail strip opposite Coles in Elsternwick Village
262 sqm*
BUILDING AREA
ZONING
98 sqm*
Commercial 1
METHOD OF SALE
TERMS OF SALE
Auction Thursday 11th August at 12:00pm on site
10% deposit with settlement in 60-120 days *approx.
EXCLUSIVE SELLING AGENTS
6
Rodney King
Fred Nucara
Director of Agency 0422 839 870 rodney@astoncommercial.com.au
Executive Director 0418 567 560 fred@astoncommercial.com.au
LOCATION 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. Elsternwick’s 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.
8
TENANCY DETAILS 450 GLEN HUNTLY RD ELSTERNWICK The property is being sold subject to a lease summarised as follows:
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 tenant
Creative & 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.
13
UNDER DEVELOPED LAND TO THE REAR W I T H L A N E WAY A C C E S S
PROPERTY PARTICULARS
450 Glen Huntly Road, Elsternwick DESCRIPTION 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.
TITLE PARTICULARS Volume: 03206 Folio: 134 Lot 1 on Title Plan 895389J
LAND DIMENSIONS AND AREA Front Premises Glen Huntly Rd Frontage Depth Rear laneway frontage Total Land Area
5.5 metres* 47.4 metres* 5.5 metres* 262 square metres*
*approx.
ZONING Commercial 1 under the City Of Glen Eira planning scheme.
16
SUBURB PROFILE
Median House Price
ELSTERNWICK
$2,142,500
Population
12,395
(source: ABS Estimated Resident Population 2021*)
Median Age CAULFIELD
$1,890,000
37YRS (source: ABS)
Median Weekly Household Income CAULFIELD NORTH
$2,550,000
$1871 (source: ABS)
17
SALE METHOD
450
GLEN HUNTLY RD E L S T E R N W I C K
Premium Freehold Investment with development upside METHOD OF SALE
TERMS OF SALE
Auction Thursday 11th August at 12:00pm on site
10% deposit with settlement in 60-120 days
INSPECTIONS
CONTRACT OF SALE & VENDORS STATEMENT
Strictly by appointment with the exclusive selling agents
Available upon request
EXCLUSIVE SELLING AGENTS
18
Rodney King
Fred Nucara
Director of Agency 0422 839 870 rodney@astoncommercial.com.au
Executive Director 0418 567 560 fred@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
