FO R SALE BY P U B LI C AU CTI O N O N F R I DAY 3 0TH AP R I L AT 12 N O O N O N-S ITE
CONTENTS 04 INTRODUCTION 06
EXECUTIVE SUMMARY
08 LOCATION 12
PROPERTY PARTICULARS
14
EXISTING IMPROVEMENTS
15
FLOOR PLAN
17
FURURE SITE POTENTIAL
20
MARKET SALES ACTIVITY
22
SALE METHOD
INTRODUCTION Aston Commercial in conjunction with POC Commercial are pleased to offer 395 High Street, Ashburton For Sale by Public Auction on Friday 30th April at 12 noon on-site.
Offered with vacant possession this affordable property offers a great opportunity for owner occupiers looking to secure their own space. With interest rates at historically low levels we now are seeing a huge shift in tenants becoming owners at this price point. The property also offers sensational scope for those looking to reposition the asset with a number of nearby owners setting a precedent for small mixed use developments or the ability to extended the current premises. Aston Commercial believe there is significant upside to this property and encourages your serious consideration.
EXECUTIVE SUMMARY PROPERTY
LOCATION
395 High Street, Ashburton
The property sits approximately 12km south-east of Melbourne’s CBD and is positioned in a small thoroughfare connecting to Warrigal Road.
DESCRIPTION
LAND AREA
Single level freehold office with rear access and on-site parking
226 sqm*
BUILDING AREA
ZONING
140 sqm*
C1Z – Commercial 1 Zone
METHOD OF SALE
TERMS OF SALE
For sale by Public Auction on Friday 30th April 2021 at 12 noon on-site.
10% deposit with settlement in 60-90 days
EXCLUSIVE SELLING AGENTS
Jeremy Gruzewski
Liam Rafferty
Patrick O’Callaghan
Director of Agency 0422 211 021 jeremy@astoncommercial.com.au
Senior Sales Executive 0421 886 655 liam@astoncommercial.com.au
Managing Director 0418 343 415 patrick@poccommercial.com.au
LOCATION The property sits approximately 12km south-east of Melbourne’s CBD and is positioned in a small thoroughfare connecting to Warrigal Road. Located within the City of Boorondara, High Street Ashburton is a tightly held retail precinct which stretches between Summerhill and Warrigal Roads and is home to a number of boutique, local and national operators.
PROPERTY PARTICULARS TITLE PARTICULARS Volume 08205 Folio 155 Lot 6 on Plan of Subdivision 0404179
LAND DIMENSIONS AND AREA High Street Frontage
6.14 metres*
ROW Frontage
6.08 metres*
Eastern Boundary
38.04 metres*
Western Boundary
36.42 metres*
Total Land Area:
226 square metres*
*approx.
ZONING Under the City of Boorondara Council Planning Scheme the land is zoned Commercial 1 – C1Z The building is also subject to the following overlay DDO16 - Design And Development Overlay Schedule 16
EXISTING IMPROVEMENTS
The building is a single level brick shop front previously set up as a consulting office. Internally the building is configured with front reception area leading to a hallway with several rooms including: • Boardroom • Individual Offices • Filing/ Printing Room • Kitchenette • Staff Toilets The property abuts a rear laneway and provides on-site staff parking and a storage shed. Out the front of the property and along with retail strip there is 1 hour (1P) public parking along with a council car park of 23 spaces with access from Poulter Street. Building Area:
140 sqm*
FLOOR PLAN 395 High Street, Ashburton
Artist’s impression only. May not be to scale. Dimensions are approximate.
FUTURE SITE POTENTIAL
OFFICE
MEDICAL
Currently configured for office use there is the ability to continue with the existing reception area, boardroom, and private office spaces.
With significant nearby public parking this site could potential suite medical consultants including: • Physiotherapist • Dentist • Osteopath • Podiatrist • Specialist Doctor
RETAIL
DEVELOP
With the existing Commercial 1 zoning this property would be suited (STCA) to a number of retail uses including:
The site is currently underutilised with the single level building representing approximately 50% site coverage.
• Café / Restaurant • Health & Beauty • Retail Sales
Nearby there is a strong precedent for redevelopment including the potential for a multi level commercial building or mixed use development.
MARKET SALES ACTIVITY The local area remains tightly held with limited sales over the past 18 months. The below Is a summary of some recent sales in the immediate vicinity.
Property
301a & 301b High Street, Ashburton
Sale Price
$ 1,700,000
Date
March 2021
Price PSM/L
$ 4,146 psm
Yield
4%
Property
260 High Street, Ashburton
Sale Price
$ 1,650,000
Date
February 2021
Price PSM/L
$ 7,333 psm
Yield
3.3%
Property
519 Warrigal Road, Ashwood
Sale Price
$ 1,000,000
Date
February 2020
Price PSM/L
$ 4,784 psm
Yield
2.5%
SALE METHOD
METHOD OF SALE
TERMS OF SALE
For sale by Public Auction on Friday 30th April 2021 at 12 noon on-site.
10% deposit with settlement in 60-90 days
INSPECTIONS
CONTRACT OF SALE & VENDORS STATEMENT
Strictly by private appointment with the exclusive selling agents.
Available upon request.
EXCLUSIVE SELLING AGENTS
Jeremy Gruzewski
Liam Rafferty
Patrick O’Callaghan
Director of Agency 0422 211 021 jeremy@astoncommercial.com.au
Senior Sales Executive 0421 886 655 liam@astoncommercial.com.au
Managing Director 0418 343 415 patrick@poccommercial.com.au
DISCLAIMER This document has been prepared by Aston Commercial Pty Ltd for advertising and general information only. Aston Commercial Pty Ltd do not guarantee, warrant or represent that the information contained in this document is correct. Any interested party should undertake their own enquiries as to the accuracy of the information. Aston Commercial Pty Ltd excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damage arising therefrom. *Approximate
