Brighton
71-73 CHURCH STREET & 36 CARPENTER STREET
FOR SALE BY EXPRESSIONS OF INTEREST CLOSING WEDNESDAY 30TH MARCH AT 3PM
Contents
4
INTRODUCTION
05
EXECUTIVE SUMMARY
07
LOCATION
10
PROPERTY PARTICULARS
14
TENANCY DETAILS
18
SALE METHOD
24
71–73 Church St & 36 Carpenter St, Brighton
Introduction This generational investment opportunity is located on the landmark corner of Church and Carpenter Streets within the affluent and highly desirable Bayside suburb of Brighton.
Fitzroys in conjunction with
The prominent building is
The building has an excellent history
Aston Commercial are delighted
immaculately presented and
of limited vacancies and strong
to offer 71–73 Church Street and
consists of 3 retail components
rental growth which will no doubt
36 Carpenter Street Brighton For
and two separate floors of office
appeal to investors wishing to
Sale By Expressions of Interest
accommodation entered from
acquire a ‘Trophy’ asset situated
closing Wednesday 30th March
Carpenter Street. On-site parking
in Melbourne’s No. 1 shopping strip.
at 3pm.
is included and is entered from Carpenter Street.
This generational investment
Please contact one of the conjunctional agents to secure
opportunity is located on the
The opportunity is complemented
landmark corner of Church and
by a diverse yet simple income
Carpenter Streets within the affluent
stream from a combination of
and highly desirable Bayside suburb
national and long-standing tenants
of Brighton.
who all enjoy the benefits from the
your private inspection. *approx.
high exposure corner.
Information Memorandum
5
Executive Summary PROPERTY
LOCATION
DESCRIPTION
71–73 Church Street &
Positioned within the absolute
Immaculately presented
36 Carpenter Street, Brighton.
prime trading section of
corner freehold leased
Melbourne’s Number 1
to long standing national
Shopping Strip.
tenants with on site parking.
LAND AREA
BUILDING AREA
ZONING
933sqm*
983.80sqm*
Commercial 1
LEASE
METHOD OF SALE
TERMS OF SALE
100% leased to 5 established
For Sale by Expressions of
10% deposit, balance
tenants.
Interest closing Wednesday
in 60/90 days.
30th March at 3pm.
Exclusive Selling Agents: Jeremy Gruzewski
Chris Kombi
0422 211 021
0438 156 236
Liam Rafferty
Mark Talbot
0421 886 655
0409 222 411 Information Memorandum
7
Location 71 – 73 Church Street & Carpenter Street, Brighton is perfectly located on the landmark corner of Church and Carpenter Streets in the highly desirable and prestigious Bayside suburb of Brighton. Brighton is located only 10 kilometres from Melbourne’s CBD and is regarded as the “premier” suburb of Bayside featuring many of Melbourne’s expensive homes, elite schools, popular shopping strips and first class amenities. Church Street Brighton is regarded as Melbourne’s Number 1 shopping strip and is renowned for a long history of low vacancy rates and includes many of Australia’s leading and established fashion operators including Scanlon and Theodore, Country Road, Mecca, Husk, Sportscraft, Seed, Saba, Flanel, Kookai and more. The street also features all major banks, supermarkets and local hospitality venues including The Pantry, Half Moon Hotel, Dendy Deli and the Waterfront. The balanced tenancy mix within the street and excellent public car parking options within the precinct attract a large customer base from Brighton and nearby suburbs.
RETAIL & ENTERTAINMENT Church Street Brighton - No. 1 Shopping Street
EDUCATION Brighton Grammar Firbank Girls Grammar Haileybury St Leonards College
RECREATION & LIFESTYLE Brighton Beach Green Point Brighton Bathing Boxes
HEALTH Brighton Private Hospital
TRANSPORT Sandringham Line with Middle Brighton Station in proximity. Convenient access to the CBD via Beach Road & Nepean Highway.
10
71–73 Church St & 36 Carpenter St, Brighton
Over 80 metres of prime retail street frontage.
Property Particulars TITLE PARTICULARS The site comprises of Lots 1, 2 and 3 on Plan of Subdivision 524366J Volume 10919 Folios 108, 109 and 110.
LAND DIMENSIONS AND AREA The site represents one of Church Street Brighton’s largest land holdings and consists of the following dimensions:
Frontage to Church Street
20.12 metres*
Frontage to Carpenter Street
46.35 metres*
Rear access
20.12 metres*
Total Site Area
933 sqm*
ZONING Commercial 1 with a Design and Development Overlay (DD0 11) and Heritage overlay (HO 97) pursuant to the Bayside Planning Scheme. *approx.
14
71–73 Church St & 36 Carpenter St, Brighton
Tenancy Details The property is to be offered for sale subject to a variety of leases to National Tenants.
Brighton
Total Rent: $705,886.43 per annum plus outgoings and GST
18
71-73 CHURCH STREET & 36 CARPENTER STREET
71–73 Church St & 36 Carpenter St, Brighton
71 CHURCH STREET Area: 194 sqm*
RETAIL PRODIGY OPERATIONS PTY LTD TRADING AS NIKE Retail Prodigy Group holds the master Retail Franchise for NIKE Stores across Australia and New Zealand together with the distribution rights for US Brand TOMS. Since 2011, RPG has driven the rapid expansion of 46 Nike Branded Stores including Flagships in George St, Sydney and Melbourne Central Shopping Centre.
LEASE TERM Seven (7) years expiring March 2025
CURRENT RENT $234,084.01 pa plus gst as at March 2022
REVIEWS Annually by 4% market at option
OUTGOINGS Payable by the Tenant, except Land Tax
FURTHER TERMS One (1) further term of Seven (7) years www.retailprodigygroup.com
73 CHURCH STREET Area: 257sqm*
LAURENT BAKERY & PATISSERIE French Inspired – Australian owned since 1993. In a market where many new food trends are increasingly here today and gone tomorrow it’s unusual for a food business to be celebrating 25 years of success. In 1993 Laurent opened his first boutique bakery at the Como Centre in South Yarra, which is still there today.
LEASE TERM Nine (9) years expiring December 2025
CURRENT RENT $161,193.48 pa plus gst
REVIEWS Annually by 3.5% market at option
OUTGOINGS Payable by the Tenant, except Land Tax
FURTHER TERMS One (1) further term of Six (6) years www.laurent.com.au
3, 71-73 CHURCH STREET Area: 80sqm*
ECCO SHOES ECCO was founded in 1963 by Birte and Karl Toosbuy. Trained as a shoemaker, Karl Toosbuy had a dream to own a shoe factory and run his own business. Unique to our industry, we make leather at our own tanneries and produce shoes at our own factories. Our global family of employees, representing 60 nationalities across the globe, is the driving force behind our products. Design, development, production, and retail – we take responsibility all the way.
LEASE TERM Five (5) years expiring March 2025
CURRENT RENT $80,097.26 pa plus gst
REVIEWS Annually by 4.0%
OUTGOINGS Payable by the Tenant, except Land Tax
FURTHER TERMS Nil www.au.ecco.com
1ST FLOOR, 36 CARPENTER STREET Area: 183sqm*
WHITE FOX REAL ESTATE Multi office Melbourne Real estate agency offering Sales, Management, Advocacy Services throughout Melbourne’s most prestigious suburbs.
LEASE TERM Three (3) years expiring December 2024
CURRENT RENT $85,000.00 pa plus gst
REVIEWS Annually by 4%
OUTGOINGS Payable by the Tenant, except Land Tax
FURTHER TERMS One (1) further term of Three (3) years www.whitefoxrealestate.com.au 20
71–73 Church St & 36 Carpenter St, Brighton
2ND FLOOR, 36 CARPENTER STREET Area: 272sqm*
2 CONSTRUCT Since 2004, 2Construct has been delivering the highest quality, multi-faceted projects. 2Construct is unique in offering integrated building, civic and civil construction services.
LEASE TERM Seven (7) years expiring September 2022
CURRENT RENT $145,511.68 pa plus gst
REVIEWS Annually by 4.0%
OUTGOINGS Payable by the Tenant, except Land Tax
FURTHER TERMS Note: Tenant has signed letter of offer to renew the lease for a further term of four (4) years www.2construct.com.au
Information Memorandum
21
Brighton
Sale Method 71-73 CHURCH STREET & 36 CARPENTER STREET
METHOD OF SALE
TERMS OF SALE
INSPECTIONS
For Sale by Expressions of
10% deposit, balance
Strictly by appointment
Interest closing Wednesday
in 60/90 days.
with the exclusive selling agents.
30th March at 3pm.
Exclusive Selling Agents: Jeremy Gruzewski
Chris Kombi
0422 211 021
0438 156 236
Liam Rafferty
Mark Talbot
0421 886 655
0409 222 411
24
71–73 Church St & 36 Carpenter St, Brighton
A once in a generation property investment opportunity!
Disclaimer “Materials” refers to any representations, statements, documents, data, statistics, measurements, estimates, figures, calculations, projections, approximates or otherwise stated by Aston Commercial Pty Ltd & Fitzroys 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 & Fitzroys 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 & Fitzroys 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
