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123-133 Peel Street, North Melbourne, VIC, 3051

Development Potential
DETAILS
CBD Dress Circle Redevelopment Opportunity
  • Short-Term Income
  • Massive Development Upside - (S.T.C.A.)
  • Mixed Use Zone

Sutherland Farrelly in conjunction with Mulcahy Butera are delighted to offer for sale 123 – 133 Peel Street, North Melbourne.

On offer, a 2 level Office/Retail premises with short-term income and a Mixed Use Zone.

The particulars are summarised as follows:

Land Area - 557* sqm
• Peel Street Frontage: 28.42* metres
• Western Boundary: 28.47* metres
• Southern Boundary: 18.64* metres
• Northern Boundary: 18.93* metres

Building Area - 716* sqm
2 level office/retail divided into 3 tenancies, with the two ground floor premises separately occupied and a vacant upper-level office. Built in the early 1970s, the building is predominantly brick in construction, with a metal roof and parking is accessed via the ROW to an allocated area at the rear.

The tenancy details are:

123 – 125 Peel Street, North Melbourne
• Area – 87sqm*
• Tenancy – Master Badminton
• Lease Term plus Options - 3 Years + 3 years
• Commencement Date – 15 February 2020
• Current Rental - $42,407.04 per annum + GST
• Rental Review – 4% annual review
• Estimated Outgoings - $6,045 per annum

133 Peel Street,North Melbourne
• Area – 150 sqm*
• Tenancy – Gnosis Enterprise Holdings Pty Ltd
• Lease Term plus Options - 3 Years + 3 years
• Commencement Date – 1 July 2019
• Current Rental - $44,220 per annum + GST
• Rental Review – 4% annual review
• Estimated Outgoings - $4,100 per annum

LOCATION
The property is located on the western side of Peel Street, between Victoria Street and Queensberry Street. Undoubtedly, its ‘city fringe’ location on the doorstep of Melbourne’s CBD and the world-renowned Victoria Market precinct provides an unparalleled location and enormous mixed use development upside (S.T.C.A.). Public transport is available via a bus route and tram service along Queensberry and Victoria Streets with Melbourne’s Education and Health Services Infrastructure a walk away from the property.

TERMS OF SALE
The property is offered For Sale by Expression of Interest (EOI), with a date yet to be confirmed. We are seeking a 10% deposit upon signing the contract with settlement 60 – 90 days.

MARKETING AGENTS
To obtain further information please contact

Mulcahy Butera
55 Walsh Street, West Melbourne Vic 3003
mulcahybutera.com

David Butera
0424 388 348
[email protected]

Robert Butera
0411 630 036
[email protected]

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Sutherland Farrelly
43 Agnes Street, East Melbourne Vic 3002
sutherlandfarrelly.com.au

Paul Farrelly
0418 358 998
[email protected]

Paul Sutherland
0418 360 162
[email protected]

We welcome your enquiry and we look forward to discussing this opportunity further.

*approx.

Remember to mention you found this property on DevelopmentReady.com.au

DEVELOPMENT SITE SUMMARY
EOI:
TITLE:
Date yet to be confirmed
Property Area
AREA:
557 m² (*approx)
Property Type
TYPE:
Mixed Use,
Development Potential
DEVELOPMENT APPROVAL:
The world-renowned Victoria Market precinct provides an unparalleled location and enormous mixed use development upside (S.T.C.A.).

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123-133 Peel Street, North Melbourne, VIC, 3051

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