48 PUNT ROAD WINDSOR
FOR SALE BY EXPRESSIONS OF INTEREST CLOSING FRIDAY 24TH APRIL 2020 AT 3PM
48 CONTENTS
INTRODUCTION 06 EXECUTIVE SUMMARY
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LOCATION 10 WINDSOR FOOD PRECINCT
13
PROPERTY PARTICULARS
14
ZONING + TENANCY DETAILS
17
GLACÉ 19 APPENDICES 20 I – PLAN OF SUBDIVISION - GROUND FLOOR
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II – FLOOR PLAN
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SALE METHOD
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3
INTRODUCTION
Aston Commercial are pleased to introduce 48 Punt Road, Windsor. The property is for sale via an Expressions of Interest campaign closing Friday 24th of April 2020 at 3pm. Located underneath the exclusive ‘George Windsor Development’, the offering provides an outstanding opportunity to secure a quality strata investment securely let on a long-term lease. Home to established hospitality boutique ‘Glacé’, the 160 sqm* shop has both a retail space as well as a fully fitted commercial kitchen. Ideally tied to a 10-year lease secured in 2017, the asset is a pure set and forget opportunity ideal for first time or astute property investors. Aston Commercial highly recommends this excellent asset for your investment portfolio. *Approx.
Asset Highlights: - Secure 10-year Lease Commencing in 2017 Returning $65,563.62 net per annum plus GST - Exceptional Exposure to Major Arterial Punt Road - 1 Secure Car Park Included - Attractive Price Point
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48 PUNT ROAD WIN DSOR
EXECUTIVE SUMMARY
m
2
PROPERTY
LOCATION
48 Punt Road, Windsor VIC 3181
Located on Punt Road between Henry and Peel Street’s Windsor, this property benefits from its large frontage and major exposure to one of Melbourne’s busiest thoroughfares.
DESCRIPTION
LEASE DETAILS
Ground floor retail beneath the George Windsor Residential Development consisting of 53 apartments.
Currently occupied by ‘Glacé - Dessert Artisanal’, operating as a Commercial kitchen and café leased for $65,563 net per annum plus GST.
BUILDING AREA
ZONING
160 sqm*
Commercial 1 – (C1Z)
*approx
METHOD OF SALE
TERMS OF SALE
For Sale by Expressions of Interest Closing Friday 24th April 2020 at 3pm.
10% Deposit with settlement offered in 60 or 90 days.
EXCLUSIVE SELLING AGENTS
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Max Warren
Liam Rafferty
Sales Executive 0488 296 892 max@astoncommercial.com.au
Senior Sales Executive 0421 886 655 liam@astoncommercial.com.au
LOCATION WINDSOR 3181 Windsor has long been overshadowed by its more flamboyant neighbours, Prahran and South Yarra. However, Windsor’s time is now. Located only 5km from the Melbourne CBD, Windsor impresses with its cheerful mix of designer boutiques, gastro pubs, breakfast hotspots, Op shops, retro stores and some of the finest selection of Asian Food in the Inner East. Young, fresh and vibrant describe Windsor’s residents perfectly. This is reflected by the break-up included below showing many falling into the independent youth category. The cornerstone of hospitality industry in Windsor is reliant on this lifestyle as they choose to dine in less and dine out more.
34.2%
25.1%
10.1%
Independent Youth
Maturing + Established Independence
Older Independence
While the majority mix of its residents are youthful there is still a sense of affluence around Windsor. This is supported by boasting a median house price of over $1,300,000 which is largely due to its close proximity to the Melbourne CBD, ease of travel to both the Eastern and South Eastern Suburbs and limited opportunities to break into Stonnington’s smallest suburb. Windsor is also well complemented by its incredible network of public transport options which are essential to the liveability of the precinct. Windsor Train Station provides access to the heart of the incredible restaurant scene, while the no.78 tram patrols famous Chapel Street dropping patrons at the doorways of the iconic retail strip. + Source: realestate.com *Approx.
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THE FOOD + HOSPITALITY HOTSPOT OF INNER EAST
WINDSOR FOOD PRECINCT
Chapel Street is known for its lively hospitality scene. From the cool, trendy and delicious restaurants and bars to the amazing morning coffee culture. Windsor has it all. Chapel Street boasts the restaurant elitists from Hawker Hall to Hanoi Hannah however, take yourself down a surrounding side street and you’ll be welcomed by lavish first floor cocktail bars and hidden food outlets.
Here is a sample of the very best Windsor has to offer:
MELBOURNE
RESTAURANTS
BARS
Hawker Hall Firebird Lucky Coq The Black Toro Windsor Tokyo Tina Highline Restaurant Mr Miyagi Hanoi Hannah
High Bar Chacho’s Jungle Boy Galah Lover Windsor Castle Hotel Mothers Milk
CAFES
BOUTIQUES
Glacé Oppen Journeyman The School of 7 Bells Mr Mister
Messina & Pidapipo Alternating Current Art Space
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PROPERTY PARTICULARS
TITLE PARTICULARS 48 Punt Road, Windsor Volume: 11950 Folio: 438 Lot 5A on Title Plan No 733264B
BUILDING DIMENSIONS AND AREA Punt Road Frontage: 16.3 metres* Depth: 11.7 metres* Total Building Area:
160 square metres
*Approx
ZONING: Commercial 1 Zoning To create vibrant mixed-use commercial centres for retail, office, business, entertainment and community uses. To provide for residential uses at densities complementary to the role and scale of the commercial centre.
PLANNING Municipality of City of Stonnington The Certificate of subdivision is attached in Appendix I.
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ZONING + TENANCY DETAILS
The property is being sold subject to a lease summarised as follows:
Trading As
GlacĂŠ Dessert Artisanal
Area (sqm)
160.00
Current Rent PA
$65,563.62 net per annum plus GST
Current Term
10 years
Lease Commencement
21/02/2017
Options
2 x 6 years
Lease Expiry
20/02/2027
Increases
3%
Outgoings
Paid by Tenant
Total
$65,563.62 net per annum plus GST
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Christy Tania earned her pastry-chef stripes at some of Melbourne’s best restaurants, including Vue de Monde and Jacques Reymond. She worked at the Ritz Hotel in Paris and Guy Savoy in Singapore before returning to Melbourne as head chef at Om Nom, a dessert-only fine diner at the Adelphi Hotel. But most people know her from MasterChef. Glacé, her first venue was opened in August 2017 at 48 Punt Road, Windsor. The space has since been converted into a fully functioning commercial kitchen with additional retail space to service the public. Since then, Glacé have opened a second store in the Melbourne Emporium expanding to offer their exceptional precision desserts to the Melbourne CBD as well as offering a catering service for events. You’ll find Glacé open 7 days a week from 7.30am till late for your delicious dessert treats.
The Neighbours: The Windsor Alehouse Wot A Kebab Windsor 7-Eleven Cellarbrations
Source - Broadsheet (www.broadsheet.com.au/melbourne/windsor/cafes/glace)
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APPENDICES I PL AN OF SUBDIVISION - GROUND FLOOR
48 PUNT ROAD, WINDSOR DIAGR AM 1 GROUND LEVEL AND GROUND STOREY
*Tenancy known on subdivision as Lot 5A 20
APPENDICES II FLOOR PL AN
48 PUNT ROAD, WINDSOR
The above plan is an artist’s impression only, it includes elements that are for display purposes only and may not be to scale. Landscaping shown is indicative only. Dimensions are approximate. 21
48 PUNT ROAD WIN DSOR
SALE METHOD
METHOD OF SALE
TERMS OF SALE
Expressions of Interest Campaign Closing Friday 24th April 2020 at 3pm.
10% Deposit with settlement offered in 60 or 90 days.
INSPECTIONS
CONTRACT OF SALE & VENDORS STATEMENT
Strictly by private appointment with the exclusive agents.
Available on request.
EXCLUSIVE SELLING AGENTS
Max Warren
Liam Rafferty
Sales Executive 0488 296 892 max@astoncommercial.com.au
Senior Sales Executive 0421 886 655 liam@astoncommercial.com.au
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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