POINT OF INTEREST:
Three lots, three street frontages, and three tenancies add up to the perfect asset trifecta. The land spreads out across a total of 1,780 sqm* while the building area makes up 1,021 sqm*, falling within the convenient mixed-use zoning. The three blocks are all currently tenanted to automotive repair shops and a new food and beverage business, returning $105,980 per annum in leased income. All three tenancies include six-month demolition clauses actionable from October 2024, plus there’s potential to build up to five levels above, as well as a basement below (STPA). This lends itself perfectly to potentially developing Mordialloc’s newest residential building with the option of clever retail and hospitality on the ground floor. In saying that, the flexibility of the space paired with its mix of commercial and residential surrounds translates to an opportunity for any type of development to thrive here. So much more than a coastal suburb, Mordialloc has turned into the Fitzroy of bayside with plenty to offer in hospitality, recreation, and commercial ventures. This point in Mordialloc is particularly golden, with Woodlands Golf Club sitting directly opposite the asset, the 709 bus stop on the doorstep, and Boundary Road is practically within arm’s reach. Taking the Nepean Highway, located only 1.6 km* away, will get you into the CBD in 40 minutes. Mordialloc railway station sits 1.6 km* away and can take you central in a little over an hour.
- Currently returning $105,980 per annum + outgoings per lease.
- Three separate tenancies all with six-month demolition clauses.
- 1,031 sqm* total building area.
- 1,780 sqm* land area.
- Mixed-use zoning.
- Three street frontages.
- Plenty of un-restricted parking adjacent.
- 1.6 km* from Mordialloc railway station.
- 24 km* from Melbourne CBD.
POINT OF VIEW:
In a market where land is more difficult to come by than lettuce, this is an opportunity for the astute developer looking for a suburb that upholds the strongest sense of community in Melbourne’s south.
*Approx.
Pricing excludes GST
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