Nichols Crowder is delighted to offer this remarkable opportunity to purchase a double frontage mixed-use development site with income in the city of Frankston.
* LOT A: 4,044sqm*/ LOT B: 3,802sqm
* TOTAL LAND AREA: 7,846sqm*
* INCOME: $307,651 p.a. net
* COMMERCIAL 2 ZONE
5 tenancies leased to national tenants which include: Barbeques Galore, Volkswagen and Mitsubishi.
Located on the "Golden Mile" Dandenong Road West which has long been the most sought after and tightly held stretch of land in the City of Frankston. With two street frontages, the site provides incredible scope for a developer or occupier to capitalise on the locational aspects and access. The site is just 600 meters from the foreshore and centrally located between the Frankston Train Station (1km to the west) and Kananook Railway Station (1.3km to the east).
Most tenants have indicated a strong desire to stay on new long-term lease agreements but for now, all leases are either month x month or expire within the next few years (with no further lease options).
Key features include:
* Lot A land area = 4,044sqm* / Lot B land area = 3,802sqm*
* Total land area: 7,846sqm*
* Flexible Commercial 2 zoning
* Existing buildings of 3,729sqm*
* Current rent of $307,651 p.a. * + GST + outgoings
* Land bank or value-add site (STCA)
To be offered either as a whole or 2 separate lots.
This property is for sale by Expressions of Interest closing Thursday 18th November 2021 at 3pm.
For further information or to arrange an inspection, please contact:
James Dodge 0488 586 896
Josh Monks 0409 335 179
* Inspections are carried out in accordance with strict Covid-19 Directions. For further details contact the Estate Agent.
* All information and measurements are approximates. All images subject to copyright. Unauthorised use is strictly prohibited.
Remember to mention you found this property on DevelopmentReady.com.au
Closing Thursday 18th November 2021 at 3pm
0.78 hectares (*approx)
Commercial, Other, Other
Commercial development Opportunity (STCA)
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