Crabtrees Real Estate are pleased to offer to the market for SALE via PUBLIC AUCTION this terrific opportunity to acquire an outstanding development site of 530 sqm* with a current holding income in the premier location of Carnegie.
++ PUBLIC AUCTION – THURSDAY 12TH OCTOBER AT 1.30PM ON-SITE ++
The property comprises 2 adjoining shops on separate titles to be sold as one. The upside of these properties are their potential for a (5) level mixed use development (STCA) in a tightly held location with great surrounding amenity and close proximity to Carnegie Station.
Property Features:
+ Huge 12 metre* frontage to Koornang Road
+ Favourable Commercial 1 Zoning
+ Multi level development potential up to five (5) levels (STCA)
+ Public transport nearby including new Carnegie Train Station, and multiple bus routes
+ Prime position within a growing residential mixed-use/residential development catchment
+ Surrounded by prominent traders including Woolworths, Aldi, Chemist Warehouse, Bakers Delight, Crust Pizza as well as a host of popular local eateries and the Rosstown Hotel
Tenancy Details:
21A Koornang Road:
+ Vacant Possession
21B Koornang Road:
+ Currently Leased to Yami Yami Korean BBQ Restaurant
+ Three (3) year lease from 20 July 2021
+ One (1) further option of three (3) years
+ Rental income $36,382.32pa net
+ 5% annual increases
Crabtrees Real Estate is built on history, reputation and expertise.
We offer a level of knowledge others can't match.
Our team strategically located across the eastern and south eastern corridors of Melbourne are ready to handle your Commercial, Industrial and Retail Property needs today so call or email NOW!
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