12-14 Johnson Street, OAKLEIGH INFORMATION MEMORANDUM SALE BY PUBLIC AUCTION FRIDAY 16TH NOVEMBER 2018 AT 1PM ONSITE
INFORMATION MEMORANDUM | 1 JOHN STREET, CLAYTON crabtrees.com.au/18265
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Built on knowledge.
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INFORMATION MEMORANDUM | 12-14 JOHNSON STREET, OAKLEIGH
INFORMATION MEMORANDUM | 12-14 JOHNSON STREET, OAKLEIGH
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Introduction Crabtrees are pleased to offer for sale this golden development opportunity prominently located in Oakleigh. The key features include: • Zoned Commercial 1 • Substantial corner site of 892m²* • Huge potential for multi-level development (5+ levels STCA) • 4 shop/office tenancies totalling 534m²* plus additional land • Potential fully leased income of $100,000 per annum* net • Located adjacent Oakleigh Railway Station and Oakleigh Shopping Centre
Chris McKenzie 0418 321 065 chris@crabtrees.com.au 4
Rodney King 0422 839 870 rodney@crabtrees.com.au
INFORMATION MEMORANDUM | 12-14 JOHNSON STREET, OAKLEIGH
Executive Summary Property Address
12-14 Johnson Street, Oakleigh VIC 3166
Method of Sale
Public Auction
Property Overview
Significant corner development site with 4 shop offices, income and huge potential for multi-level development
Land Area
892m²*
Building Area
534m²*
Land & Title Particulars
Unit 1 on Strata Plan 033263D, Volume 09911 Folio 114 Unit 2 on Strata Plan 033263D, Volume 09911 Folio 115 Unit 3 on Strata Plan 033263D, Volume 09911 Folio 116 Unit 4 on Strata Plan 033263D, Volume 09911 Folio 117 The title and site plan is included in Appendix 1
Zoning
The land is zoned Commercial 1 under the City of Monash Planning Scheme allowing for a broad range of potential uses.
Tenant
Potential income of $100,000 per annum* net
Terms of Sale
10% deposit payable with full settlement payable either 60 or 90 days or as agreed.
*All sizes and amounts are approximate. The vendor and their agents do not hold themselves responsible for errors, omissions and discrepancies, if any, in these particulars which have been compiled to the best of their ability, but are not guaranteed.
INFORMATION MEMORANDUM | 12-14 JOHNSON STREET, OAKLEIGH
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INFORMATION MEMORANDUM | 12-14 JOHNSON STREET, OAKLEIGH
Property Overview A GOLDEN OPPORTUNITY! Key property features include: • Zoned Commercial 1 • Substantial corner site of 892m²* • Huge potential for multi-level development (5+ levels STCA) • 4 shop/office tenancies totalling 534m²* plus additional land • Potential fully leased income of $100,000 per annum* net • Major activity centre • Highly successful apartment location • Strategic development opportunity • 2 street frontages
This is a very rare opportunity to secure a landmark site with the opportunity to either hold and collect the income or to develop almost immediately.
BUILDING PARTICULARS: ADDRESS
AREA
12 Johnson Street
129m²*
12a Johnson Street
130m²*
14 Johnson Street
137m²*
14a Johnson Street
138m²*
*All sizes and amounts are approximate. The vendor and their agents do not hold themselves responsible for errors, omissions and discrepancies, if any, in these particulars which have been compiled to the best of their ability, but are not guaranteed.
INFORMATION MEMORANDUM | 12-14 JOHNSON STREET, OAKLEIGH
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Lease Summary The subject properties are leased on the following basis. 12 JOHNSON STREET - VACANT 12A JOHNSON STREET Tenant
Khoa Anh Thi Nguyen
Annual Rent
$25,956 per annum plus GST & Outgoings
Lease Start Date
01/12/2015
Term
Three (3) Years
Rental Reviews
Annual 4% increases
Option
One further term of 3 years
14 JOHNSON STREET
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Tenant
TEJ Immigration Pty Ltd
Annual Rent
$23,339.88 per annum plus GST & Outgoings
Lease Start Date
23/06/2016
Term
Three (3) Years
Rental Reviews
Annual 3% increases
Option
One further term of 2 years
INFORMATION MEMORANDUM | 12-14 JOHNSON STREET, OAKLEIGH
Lease Summary Cont. The subject properties are leased on the following basis. 14A JOHNSON STREET Tenant
Zeralda Pty Ltd
Annual Rent
$18,856.92 per annum plus GST & Outgoings
Term
Monthly Tenancy
RENTAL SUMMARY: The property has a current indicative passing net return of $68,152.80 per annum plus GST and is subject to some B-Grade leases and Tenants. Please note, 12 Johnson Street is vacant and assuming a rental of $25,000 per annum net would give a total passing annual rental of $93,152.80 per annum plus GST and Outgoings.
INFORMATION MEMORANDUM | 12-14 JOHNSON STREET, OAKLEIGH
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Location The subject property is prominently located in Oakleigh, one of South Eastern Metropolitan Melbourne’s most recognisable commercial locations. The property is located adjacent to the Oakleigh Railway Station and Oakleigh Shopping Centre which provides substantial amenity and is easily accessible by road with both exposure and almost immediate access to Warrigal Road. Oakleigh has been through an amazing transformation in recent years and has re-invented itself as a café/food precinct centred around Eaton Mall with strong support from the local Greek community. This has been reflected in property prices which have soared, as Oakleigh has become one of the tightest held property markets in the South East.
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The subject property is approximately 1km from the famous Chadstone Shopping Centre, home to international luxury brands, a 10-level office tower and soon to be built boutique hotel. The property is centred between Monash University Caulfield and Clayton Campus’s. Oakleigh is also ideally located with excellent access to major arterial routes including Dandenong Road/Princes Highway, Monash M1 Freeway (less than 2km to the freeway entry), North Road and Huntingdale Road.
INFORMATION MEMORANDUM | 12-14 JOHNSON STREET, OAKLEIGH
Development Opportunity Oakleigh is recognised as a high demand market with a median house price of $1,150,000 and a median apartment price of $426,944. The property is bounded by Chadstone with a median house price of $1,101,500 and a median apartment price of $752,500, East Bentleigh with a median house price of $1,238,000 and a median apartment price of $765,000 and Murrumbeena with a median house price of $1,387,500 and a median apartment price of $577,500. Over recent years there have been numerous mixed-use developments completed, currently under construction or soon to commence within the immediate area. These developments enhance the location and underpin the potential of the proposed redevelopment of the subject property. DEVELOPMENTS IN THE IMMEDIATE AREA:
OROS - 807-811 WARRIGAL ROAD, OAKLEIGH Three buildings up to 10 storeys with 260 apartments & 106 serviced apartments approved and soon to commence construction.
DRUMMOND RISE - 1525 DANDENONG ROAD, OAKLEIGH 7 storey mixed use development completed consisting of 74 apartments, multiple retail spaces and 78 car spaces.
PARAMOUNT LIVING - 59-63 WARRIGAL ROAD, OAKLEIGH 5 storey development with 46 apartments and 47 car spaces under construction.
11 CHESTER STREET, OAKLEIGH 9 levels mixed use development approved. 22 Apartments plus ground floor cafe’ with approved seating for 45 people and 26 car parks. 11
Zoning The subject property is zoned Commercial 1 under the City of Monash Planning Scheme and ideally positioned in the Oakleigh Major Activity Centre, according to the most recent Victorian zoning information available.
Method of Sale Auction 12-14 Johnson Street, Oakleigh is being offered by Auction on Friday 16th November at 1pm onsite.
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Access to the property will be available from 12.30pm on Auction day, however you can book an inspection prior by contacting Chris McKenzie on 0418 321 065 or Rodney King on 0422 839 870.
INFORMATION MEMORANDUM | 12-14 JOHNSON STREET, OAKLEIGH
Oakleigh Sub-Precinct 3C:-
Preferred
Land Use:Establishment of low and medium-rise commercial and/or residential premises in the sub-precinct. Retail shop use is discouraged in this subprecinct.
SUBJECT PROPERTY
Built Form Building Height [see Diagrams] Street facades up to: 7 metres (2 storeys) in Mora Street and parts of Johnson Street and Haughton Road. (3 storey area)
Legend
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Strategic Development Sites Car Parks
Oakleigh Village - Western Gateway Pedestrian Links ' Oakleigh Station Preferred Building Heights Railway Line ResCode Provisions 3 Storey 4 Storey 5 Storey 7 Storey 8 Storey Minimal Change
10 metres (3 storeys) fronting south side of Mill Road and parts of Johnson Street and Haughton Road. (4 storey area) 12 metres (3 storeys) between Haughton Road, Johnson Street and Mill Road. (5 storey area) A height up to: 5 storeys between Haughton Road, Johnson Street and Mill Road. 4 storeys fronting the south side of Mill Road and parts of Johnson Street and Haughton Road. 3 storeys fronting Mora Avenue and parts of Johnson Street and Haughton Road Building Setbacks
[see Diagrams]
6 metre street setback for sites zoned Residential. Zero street setback to frontages for sites zoned commercial. 37 Oakleigh Major Activity Centre - Structure Plan – 28 August 2012 [FINAL] 13
Terms of Sale The property is offered for sale on the basis of: Deposit: 10% of the agreed purchase price payable upon signing the Contracts of Sale. Settlement: The Vendor will require full settlement of the sale upon 60 or 90 days from date of Exchange of Contracts.
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INFORMATION MEMORANDUM | 12-14 JOHNSON STREET, OAKLEIGH
Summary This is a golden development opportunity prominently located in Oakleigh. The key attributes are: • Zoned Commercial 1 • Substantial corner site of 892m²* • Huge potential for multi-level development (5+ levels STCA) • 4 shop/office tenancies totalling 534m²* plus additional land • Potential fully leased income of $100,000 per annum* net • Located adjacent Oakleigh Railway Station and Oakleigh Shopping Centre
INFORMATION MEMORANDUM | 12-14 JOHNSON STREET, OAKLEIGH
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Annexure 1 Title & Plan of Subdivision
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INFORMATION MEMORANDUM | 12-14 JOHNSON STREET, OAKLEIGH
Copyright State of Victoria. This publication is copyright. No part may be reproduced by any process except in accordance with the provisions of the Copyright Act 1968 (Cth) and for the purposes of Section 32 of the Sale of Land Act 1962 (Vic) or pursuant to a written agreement. The information is only valid at the time and in the form obtained from the LANDATA REGD TM System. The State of Victoria accepts no responsibility for any subsequent release, publication or reproduction of the information. REGISTER SEARCH STATEMENT (Title Search) Transfer of Land Act 1958 -------------------------------------------------------------------------------VOLUME 09911 FOLIO 114 Security no : 124071745714G Produced 11/05/2018 09:27 am LAND DESCRIPTION ---------------Unit 1 on Strata Plan 033263D and an undivided share in the common property for the time being described on the plan. PARENT TITLES : Volume 06535 Folio 952 Volume 09128 Folio 705 REGISTERED PROPRIETOR --------------------Estate Fee Simple Sole Proprietor GORDON VICTOR VALENTINE of 14 JOHNSON STREET OAKLEIGH 3166 ENCUMBRANCES, CAVEATS AND NOTICES --------------------------------REGISTRAR'S CAVEAT AM268082X 21/10/2015 Any encumbrances created by Section 98 Transfer of Land Act 1958 or Section 12 Strata Titles Act 1967 and any other encumbrances shown or entered on the plan set out under DIAGRAM LOCATION below. DIAGRAM LOCATION ---------------SEE SP033263D FOR FURTHER DETAILS AND BOUNDARIES ACTIVITY IN THE LAST 125 DAYS ----------------------------NIL ------------------------END OF REGISTER SEARCH STATEMENT-----------------------Additional information: (not part of the Register Search Statement) Street Address: 12 JOHNSON STREET OAKLEIGH VIC 3166 OWNERS CORPORATIONS ------------------The land in this folio is affected by OWNERS CORPORATION PLAN NO. SP033263D DOCUMENT END
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Copyright State of Victoria. This publication is copyright. No part may be reproduced by any process except in accordance with the provisions of the Copyright Act 1968 (Cth) and for the purposes of Section 32 of the Sale of Land Act 1962 (Vic) or pursuant to a written agreement. The information is only valid at the time and in the form obtained from the LANDATA REGD TM System. The State of Victoria accepts no responsibility for any subsequent release, publication or reproduction of the information. REGISTER SEARCH STATEMENT (Title Search) Transfer of Land Act 1958 -------------------------------------------------------------------------------VOLUME 09911 FOLIO 115 Security no : 124071745711K Produced 11/05/2018 09:27 am LAND DESCRIPTION ---------------Unit 2 on Strata Plan 033263D and an undivided share in the common property for the time being described on the plan. PARENT TITLES : Volume 06535 Folio 952 Volume 09128 Folio 705 REGISTERED PROPRIETOR --------------------Estate Fee Simple Sole Proprietor GORDON VICTOR VALENTINE of 14 JOHNSON STREET OAKLEIGH 3166 ENCUMBRANCES, CAVEATS AND NOTICES --------------------------------REGISTRAR'S CAVEAT AM268079L 21/10/2015 Any encumbrances created by Section 98 Transfer of Land Act 1958 or Section 12 Strata Titles Act 1967 and any other encumbrances shown or entered on the plan set out under DIAGRAM LOCATION below. DIAGRAM LOCATION ---------------SEE SP033263D FOR FURTHER DETAILS AND BOUNDARIES ACTIVITY IN THE LAST 125 DAYS ----------------------------NIL ------------------------END OF REGISTER SEARCH STATEMENT-----------------------Additional information: (not part of the Register Search Statement) Street Address: 12A JOHNSON STREET OAKLEIGH VIC 3166 OWNERS CORPORATIONS ------------------The land in this folio is affected by OWNERS CORPORATION PLAN NO. SP033263D DOCUMENT END
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Copyright State of Victoria. This publication is copyright. No part may be reproduced by any process except in accordance with the provisions of the Copyright Act 1968 (Cth) and for the purposes of Section 32 of the Sale of Land Act 1962 (Vic) or pursuant to a written agreement. The information is only valid at the time and in the form obtained from the LANDATA REGD TM System. The State of Victoria accepts no responsibility for any subsequent release, publication or reproduction of the information. REGISTER SEARCH STATEMENT (Title Search) Transfer of Land Act 1958 -------------------------------------------------------------------------------VOLUME 09911 FOLIO 116 Security no : 124071745712J Produced 11/05/2018 09:27 am LAND DESCRIPTION ---------------Unit 3 on Strata Plan 033263D and an undivided share in the common property for the time being described on the plan. PARENT TITLES : Volume 06535 Folio 952 Volume 09128 Folio 705 REGISTERED PROPRIETOR --------------------Estate Fee Simple Sole Proprietor GORDON VICTOR VALENTINE of 14 JOHNSON STREET OAKLEIGH 3166 ENCUMBRANCES, CAVEATS AND NOTICES --------------------------------REGISTRAR'S CAVEAT AM268076S 21/10/2015 Any encumbrances created by Section 98 Transfer of Land Act 1958 or Section 12 Strata Titles Act 1967 and any other encumbrances shown or entered on the plan set out under DIAGRAM LOCATION below. DIAGRAM LOCATION ---------------SEE SP033263D FOR FURTHER DETAILS AND BOUNDARIES ACTIVITY IN THE LAST 125 DAYS ----------------------------NIL ------------------------END OF REGISTER SEARCH STATEMENT-----------------------Additional information: (not part of the Register Search Statement) Street Address: 14 JOHNSON STREET OAKLEIGH VIC 3166 OWNERS CORPORATIONS ------------------The land in this folio is affected by OWNERS CORPORATION PLAN NO. SP033263D DOCUMENT END
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Copyright State of Victoria. This publication is copyright. No part may be reproduced by any process except in accordance with the provisions of the Copyright Act 1968 (Cth) and for the purposes of Section 32 of the Sale of Land Act 1962 (Vic) or pursuant to a written agreement. The information is only valid at the time and in the form obtained from the LANDATA REGD TM System. The State of Victoria accepts no responsibility for any subsequent release, publication or reproduction of the information. REGISTER SEARCH STATEMENT (Title Search) Transfer of Land Act 1958 -------------------------------------------------------------------------------VOLUME 09911 FOLIO 117 Security no : 124071745713H Produced 11/05/2018 09:27 am LAND DESCRIPTION ---------------Unit 4 on Strata Plan 033263D and an undivided share in the common property for the time being described on the plan. PARENT TITLES : Volume 06535 Folio 952 Volume 09128 Folio 705 REGISTERED PROPRIETOR --------------------Estate Fee Simple Sole Proprietor GORDON VICTOR VALENTINE of 14 JOHNSON STREET OAKLEIGH 3166 ENCUMBRANCES, CAVEATS AND NOTICES --------------------------------REGISTRAR'S CAVEAT AM268090Y 21/10/2015 Any encumbrances created by Section 98 Transfer of Land Act 1958 or Section 12 Strata Titles Act 1967 and any other encumbrances shown or entered on the plan set out under DIAGRAM LOCATION below. DIAGRAM LOCATION ---------------SEE SP033263D FOR FURTHER DETAILS AND BOUNDARIES ACTIVITY IN THE LAST 125 DAYS ----------------------------NIL ------------------------END OF REGISTER SEARCH STATEMENT-----------------------Additional information: (not part of the Register Search Statement) Street Address: 14A JOHNSON STREET OAKLEIGH VIC 3166 OWNERS CORPORATIONS ------------------The land in this folio is affected by OWNERS CORPORATION PLAN NO. SP033263D DOCUMENT END
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Oakleigh 20-22 Atherton Road 03 9567 8888 Dandenong 1/11-15 Smeaton Avenue 03 8795 4888 23 Built on knowledge. INFORMATION MEMORANDUM | 12-14 JOHNSON STREET, OAKLEIGH