THE ROCHESTER T E N A N C I E S
1 & 2
FOR SALE OR LEASE TENANCIES 1 & 2, 182 JOHNSTON STREET, FITZROY
THE ROCHESTER R E T A I L
1 & 2
FOR SALE OR LEASE
CONTENTS EXECUTIVE SUMMARY
05
LOCATION 06 PROPERTY PARTICULARS
09
WHY PURCHASE/LEASE
12
MARKET ACTIVITY
14
METHOD OF SALE
19
INTRODUCTION Aston Commercial are delighted to offer Tenancies 1 and 2 at 182 Johnston Street, Fitzroy for Sale or Lease. These two outstanding creative spaces are brand new and located in the highly desirable innercity suburb of Fitzroy a mere 3 kilometres* from Melbourne’s CBD and form part of ‘The Rochester’.
Fitzroy occupies a nexus of famed tenancy strips that deliver an abundance of fashion, food, entertainment, home furnishings, art and everything in between.
‘The Rochester’ is a boutique 6 level (plus basement) mixed-use development comprising of two retail/ office suites and 24 magnificent architecturally designed apartments - designed with owner occupiers in mind.
From Victoria to Alexandra Parade, the main drag of Brunswick Street presents a colourful line up of high-end, pop and alternative outlets in equal measure. Find a vintage treasure at Hunter Gatherer. Check out high-end local label ‘Cloke’ or rediscover a Fitzroy original at Scally and Trombone.
The two commercial spaces are versatile and are suitable for furniture/homewares, as well as creative offices such as architects or a photographer’s studio.
Aston Commercial highly recommend these superb commercial assets for your serious consideration.
EXECUTIVE SUMMARY
EXECUTIVE SUMMARY
m2
PROPERTY
DESCRIPTION
Tenancies 1 & 2, 182 Johnston Street, Fitzroy
Two Brilliant Creative Opportunities within the soon to be completed ‘The Rochester Fitzroy’ Development comprising of 2 retail tenancies and 24 luxurious apartments.
BUILDING AREA
TERMS OF SALE
Tenancy 1 - 83sqm* Tenancy 2 - 198sqm*
10% Deposit Balance up to 30/60/90 days
*approx
LOCATION Positioned on the Corner of Johnston Street and Rochester Street a mere 3 kms* North of Melbourne’s Central Business District.
METHOD OF SALE For immediate Private Sale or Lease.
TERMS OF LEASE Seeking five (5) year terms with options.
ZONING & PLANNING Commercial 1 Zoning City of Yarra.
EXCLUSIVE SELLING AGENTS
Jeremy Gruzewski
Max Warren
Director of Agency 0422 211 021 jeremy@astoncommercial.com.au
Sales Executive 0488 296 892 max@astoncommercial.com.au
182 JOHNSTON STREET, FITZROY
5
LOCATION The property is well positioned in the heart of Fitzroy surrounded by high profile neighbours including Forty Winks, Matt Blatt and My Pet Warehouse to name a few, and only a short stroll to all that Brunswick Street has to offer. Fitzroy is fast becoming one of the trendiest suburbs in Melbourne located just 3km* north of the Melbourne CBD and forms part of the Yarra City Council. Fitzroy has a distinct flavour and a diverse population united by a bohemian spirit, with cafes, bookstores and galleries humming within Fitzroy’s unique community. Fitzroy boasts a median house price of $1,377,500, a median apartment price of $742,000 and a median rental yield of $700 per week as at February 2020. Sought-after inner-city locale just 3km* from the Melbourne CBD Immediate access to extensive public transport linkages via Melbourne’s unique tram network Easy access to Melbourne’s major road arterials including the Eastern Freeway and Punt Road
Some nearby businesses and infrastructure include: Forty Winks, Matt Blatt, My Pet Warehouse, Jimmy Buttons, Great Dane Furniture China Bar, The Fitz, Faradays Cage No. 11 Tram 210m* Naked for Satan, Blackcat, Black Pearl, The Rochester Hotel
Eastern Freeway, Punt Road Fitzroy Gardens, Carlton Gardens, Melbourne Museum
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182 JOHNSTON STREET, FITZROY
LOCATION
CBD 3KM S
182 JOHNSTON STREET, FITZROY
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PROPERTY PARTICULARS
BICYCLE STORAGE
CAR LIFT
BICYCLE STORAGE CAR LIFT
19. 20. 21. 22. 23. 24.
BUILDING ENTRANCE
WALKWAY
GARDEN
4. 3. 2. 1.
< 7. 6. 5.
ROCHESTER STREET >
LIFT
WALKWAY
GARDEN
GARDEN
DDA WC & SHW
SHOP 2
<
8
182 JOHNSTON STREET, FITZROY
JOHN STON STREE T >
SHOP 1
PROPERTY PARTICULARS Designed by award winning architecture studio Ola in collaboration with Breathe Architecture is The Rochester. An outstanding mixed use development that draws on cultural inspiration from the surrounding neighbourhood, delivering exceptional quality, durability and style. Beneath the 24 contemporary homes are two outstanding commercial spaces. Great ceiling heights and ample natural light make this commercial space ideal for retail, office or studio accommodation. The raw shell is ready for you to create your own personal space for your needs! While offered as two separate titles the tenancies can be combined to flow as one if a larger space is required.
PROPERTY DESCRIPTION AREA
CAR PARKS
Tenancy 1
83 sqm
1
Tenancy 2
198 sqm
2
Total
281 sqm
3
Local Council
Yarra City Council
Zoning
Commercial 1
182 JOHNSTON STREET, FITZROY
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10
182 JOHNSTON STREET, FITZROY
182 JOHNSTON STREET, FITZROY
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WHY PURCHASE/LEASE
The rent vs buy argument
Excellent depreciation benefits
Interest rates remain at all time lows and therefore it is much cheaper to own than rent! For example, tenancy 1 market rent is $41,500 per annum net. If you borrow 70% your interest only cost is going to be circa $20,916 (based on an interest rate of 4%). So if you have the deposit, it just makes sense!
Being brand new, both tenancys present outstanding depreciation benefits â&#x20AC;&#x201C; BMT Tax depreciation specialists have provided an indicative depreciation schedule for your consideration.
Minimal Land Tax
Location Location Location!
Land Tax continues to rise in Australia particularly when it comes to freehold assets. Strata has fast become a favourite among investors as annual costs are typically at much lower levels than comparable freehold properties.
Located in an ideal position on Johnston Street both properties offer outstanding amenity being only a stoneâ&#x20AC;&#x2122;s throw away from all the iconic cafes and eateries Fitzroy has to offer.
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182 JOHNSTON STREET, FITZROY
WHY PURCHASE/LEASE
MARKET ACTIVITY Strata Retail Sales PSM (L)
Address
Sale Date Sale Price
13 Smith Street, Fitzroy
Oct 2019
$805,000
90
$8,945
98 Gertrude Street, Fitzroy
Dec 2018
$1,420,000
147
$9,659
1/237 Napier Street, Fitzroy
May 2019
$2,200,000
192
$11,458
360A Brunswick Street, Fitzroy
Feb 2018
$1,450,000
95
$15,263
Lease Date
Lease Price
13 Smith Street, Fitzroy
Jul 2019
$50,000
90
$555
91 Smith Street, Fitzroy
Dec 2019
$39,000
70
$557
92 Gertrude Street, Fitzroy
Aug 2019
$40,000
50
$800
246 Brunswick Street, Fitzroy
Oct 2018
$40,000
110
$363
Recent Leasing Activity Address
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Build Area (m2 )
182 JOHNSTON STREET, FITZROY
Build Area (m2 )
PSM (L)
MARKET ACTIVITY
BRUN
ST REE K C I SW
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THE ROCHESTER R E T A I L
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1 & 2
FOR SALE OR LEASE
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182 JOHNSTON STREET, FITZROY
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182 JOHNSTON STREET, FITZROY
182 JOHNSTON STREET, FITZROY
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METHOD OF SALE 18
182 JOHNSTON STREET, FITZROY
METHOD OF SALE
TERMS OF SALE
INSPECTIONS
10% deposit with settlement terms of 30/60/90 days
Strictly by appointment with selling agents
CONTRACT OF SALE & VENDORS STATEMENT Available on request
METHOD OF SALE For immediate Private Sale or Lease
EXCLUSIVE SELLING AGENTS
Jeremy Gruzewski
Max Warren
Director of Agency 0422 211 021 jeremy@astoncommercial.com.au
Sales Executive 0488 296 892 max@astoncommercial.com.au
182 JOHNSTON STREET, FITZROY
19
