Heidelberg – New Fully Leased Building with Permit

Located within the prime retail hot-spot of Burgundy Street, Heidelberg, this newly built freehold is a fantastic investment offering from the Savills team of Nick Peden and Jesse Radisich.


This notable freehold building, positioned in the heart of Burgundy Street is entirely leased to Chemist Warehouse - one of Australia's leading retail groups.






With approved plans and permit to add 16 premium apartments above the existing retail (over 7 levels), the foundations and structure to support this additional development opportunity have been complete. This represents a substantial cost saving and importantly the tenant has approved construction while they trade.


Savills Director, Nick Peden said "Prime properties located in extremely popular, vibrant retail and commercial destinations are in extremely short supply. Add to this a secure blue chip tenant together with an approved plan and permit to further maximise investment and you have the blue-chip asset you have been waiting for". .


Other key attributes of this outstanding investment property include:

- Highly valuable landholding of approx. 429sq m

- Newly built building with rear access

- Car parking for 10 vehicles on rooftop

- Current Net Rental: $243,101 PA approx. with fixed 5% annual Increases

- A rare opportunity to acquire a blue-chip freehold with upside

 

156 Burgundy Street, Heidelberg is For Sale by Expressions of Interest closing Tuesday 8th November at 2pm.


For further information, please contact:

 

Nick Peden - 0402 011 266

Jesse Radisich - 0402 085 702


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