Rarely does an asset emerge with immediate returns with blue-chip development upside. Positioned in the heart of a thriving activity precinct, 213-215 Blackburn Road represents a premier acquisition for the astute investor and the strategic developer alike.
This significant 1,017 m² landholding, zoned Commercial 1 (C1Z), is currently anchored by a high-performing premium hospitality tenant, delivering a robust net income with structured annual growth.
Investment Summary
• Net Annual Income: $238,702.50 p.a. + GST
• Built-in Growth: Fixed 3% annual rent increases
• Secure Lease Structure: Term expiring October 2028 with further options
• Low-Overhead Asset: Net lease with tenant paying all recoverable outgoings (excl. Land Tax)
• Strategic Landholding: 1,017 m² of prime Commercial 1 Zone (C1Z) land
• Unrivalled Connectivity: 300m to Mount Waverley Station; 2km to The Glen Shopping Centre
• Future Upside: Development clause embedded in the lease to facilitate long-term planning
For the Visionary Developer: Get Paid to Plan
Capitalise on the "land-bank" opportunity of the year. With a substantial passing income to offset holding costs, you have the breathing room to design and permit a landmark mixed-use project. The site's favourable zoning and proximity to transport support a high-density vision of 6+ levels (STCA).
Elite Tenant Covenant
The property is home to a renowned destination restaurant specialising in premium live seafood and Cantonese cuisine.
• Proven Patronage: A destination venue attracting consistent foot traffic from across Melbourne.
• High Exposure: A landmark street presence with excellent brand visibility.
• Professional Operations: A long-standing, reputable business known for quality and reliability.
Private Sale
To request a comprehensive Information Memorandum or to arrange a private inspection, please contact the exclusive agents.
Will Jonas
0422 883 011
[email protected]
Ryan Trickey
0400 380 438
[email protected]
Remember to mention you found this property on DevelopmentReady
Close
