AAA Retail Investment With Upside
Savills is delighted to offer for sale this prime, fully leased retail building in a highly sought after position within the heart of the Burgundy Street retail precinct. This property represents a fantastic opportunity to acquire a prominent retail freehold building fully leased to blue-chip tenant 'Chemist Warehouse' and within the premium retail strip of Burgundy Street, Heidelberg. The key attributes of this fantastic property include:
- A super prime Burgundy Street retail freehold
- New lease to blue-chip tenant – Chemist Warehouse (280+ stores Australia wide)
- Newly built building of 420sq m* with car parking for 10 vehicles on rooftop
- Highly valuable landholding of 429sq m* with rear access
- Current Net Rental: $243,101 pa* with fixed 5% annual increases
- Approved plans and permit to add 16 premium apartments above existing retail (over 7 levels)
- Foundations/structure already built to support approved development – massive cost saving, plus the tenant will allow construction while they trade
- Commercial 1 Zone
- Exceptional position within the heart of the prime Burgundy Street retail strip
- An incredibly rare opportunity to acquire a blue-chip retail freehold with upside!
Given the record low interest rate environment and volatility in the stock market, secure retail investments with secure, blue-chip tenants and fixed, built in rental increases in an established and highly sought after retail location are in in short supply and we highly recommend your consideration to purchase this high profile retail investment.
156 Burgundy Street, Heidelberg is for Immediate Private Sale.
For further information, please contact:
Nick Peden - 0402 011 266
Jesse Radisich - 0402 085 702
Remember to mention you found this property on DevelopmentReady.com.au
429 m² (*approx)
Commercial, Mixed Use,
16 premium apartments above existing retail (over 7 levels)