NEW DEVELOPMENTS, DEALS
Prominent Corner Landholding in Melbourne’s Booming Inner-North Hits The Market
Posted by Development Ready on Aug 08, 2019

ICR Property Group, in conjunction with CBRE, are delighted to present 21-53 Hoddle Street, Collingwood – a one of a kind, 5,390sqm* land parcel with an enormous triple street frontage of 272m*.

With flexible Commercial 1 Zoning, this corner property in one of Melbourne’s hottest suburbs, offers significant opportunity for an array of outcomes. With its scale, scope and strong income stream – the stars very rarely align themselves so well.

Potential purchasers are encouraged to enquire today, to obtain due diligence documents or to organise an inspection.

“The flexibility offered with this site is almost second to none,” ICR Property Group’s Raff De Luise attests.

“We see potential for a future mixed-use development, residential, office, retail or hotel – subject to the appropriate approvals of course. The property is currently utilised as a major car dealership and is offered with a flexible leaseback that will provide $2.5 million of annual net income. This level of holding income is substantial to say the least, and should ease time concerns of the new owners while the plans are being drawn and the approvals are being sought.”

The prime Collingwood landholding encompasses 5,390sqm* and presents an extensive triple street frontage totalling 272sqm* across Langridge, Hoddle and Islington Streets. Its positioning is right in the middle of the very best that Melbourne has to offer and has the opportunity to capitalise on the consistently high demand.

“Collingwood has evolved and now commands a premium price for residential and commercial spaces – something you couldn’t really say 10-years ago,” conjunctive selling agent Julian White of CBRE noted.

“The median price for a house currently sits close to $1 million, with apartments sitting around $560,000^. Everything that makes Melbourne great is ‘on your doorstep’ in Collingwood, and this property is right in the thick of it.

“The MCG and Sporting Precinct; the city-escape style Yarra River Walking and Cycling Trail; the stunning Fitzroy Gardens; multiple schooling options; transport options via bus, train and tram; the hedonism of Smith and Brunswick Streets eateries and bars – everything is within close proximity.”

 

Summary:

  • Prime Collingwood landholding of 5,390sqm* with 272sqm* triple street frontage across Langridge, Hoddle and Islington Streets
  • Offered with strong income stream of $2.5 million net per annum*
  • Currently improved with a prominent four (4) level showroom and office building of 15,410sqm*
  • Commercial 1 Zoning suiting mixed-use, residential, office or hotel development (STPA)
  • Excellent public transport – train, bus and tram all close by
  • Only 1.6kms* from Melbourne CBD
  • Quality retail amenity within walking distance. Smith, Gertrude and Brunswick Streets
  • Surrounded by the very best of Melbourne; MCG & Sporting Precinct, Yarra River Walking/Cycling Trail, Fitzroy Gardens and multiple schooling options

*Please note that all financials, measurements and distances quoted are approximate only.
^Data: CoreLogic

To obtain due diligence documents or to organise an inspection of 21-53 Hoddle Street, Collingwood, potential purchasers are encouraged to contact one of below Exclusive Sales Agents and mention Development Ready.

ICR Property Group
Raff De Luise: +61 418 533 633 
Julian Materia: +61 498 188 011

CBRE
Josh Rutman:  +61 411 273 746
Julian White: +61 422 764 137
Mark Wizel: +61 411 694 756

 

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