well located balaclava property up for sale with huge upside

well located balaclava property up for sale with huge upside


March 2020
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Well Located Balaclava Property Up For Sale With Huge Upside

Attention mixed-use and creative developers and investors alike, this new opportunity recently brought to the market from Melbourne’s inner-south-east has exceptional potential not to be passed by.

Situated in the heart of Balaclava, a stone’s throw from the heralded Carlisle Street and Balaclava Train Station, 6-10 William Street occupies a large site area of 1,158sqm and has a flexible Commercial 1 zoning status.

This unique property offers almost limitless potential outcomes (STCA). Exclusive agents, James Thorpe and Steve Kelly from JLL Melbourne will be taking this asset to auction at 11am Thursday 12 March 2020.

“The attributes of this exceptional opportunity lend itself to a high-quality boutique development encompassing the thriving underlying location of the property,” Mr Thorpe commented.

“The range of outcomes are broad but include projects that cater towards owner-occupiers, strata use, commercial freehold or mixed-use.”

The property offers two street frontages and is neatly positioned within 50m of Balaclava Train Station and Carlisle Street, delivering commuters easily into the city or to St Kilda Beach. The Balaclava retail precinct also offers a bounty of café and restaurant options, as well as a large Coles Supermarket and other independent grocers.

Mr Kelly noted that the new owners have the additional benefit of receiving strong holding income: “Both current sitting tenants hold short term leases, allowing time to draw up plans and obtain development approval. The timing for this site to hit the market is perfect!”
 

Summary:

  • 1,158sqm of flexible Commercial 1 Zoned land
  • Ideal for owner-occupiers, strata use, commercial freehold or mixed-use development (STCA)
  • Strong holding income with short term leases from two tenants
  • Dual street frontage
  • Within 50m of Balaclava Train Station and Carlisle Street shopping precinct
  • Easy access to CBD and St Kilda Beach

 *Please note that all financials, measurements and distances quoted are approximate only.

6-10 William Street, Balaclava, VIC, 3183, is offered for sale via Auction at 11am Thursday 12 March 2020.

Enquire today to receive further detailed information.
Please contact the JLL Melbourne team and mention Development Ready.
James Thorpe: +61 414 510 071
Stephen Kelly: +61 407 320 377

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