Desired City Fringe Freehold with Exceptional Development Potential
Gross Waddell ICR is pleased to exclusively present for your consideration 289 Ingles Street, Port Melbourne, a sprawling city fringe commercial freehold with exceptional development potential (STCA). This fully leased freehold offers substantial income profile and is surrounded by phenomenal height precedents.
• 2,414 sqm* Port Melbourne landholding right on the edge of the Melbourne's CBD within the highly popular ‘Sandridge Precinct’
• Securely leased to 2 long established tenants including the blue-chip national retailer Spotlight
• Substantial income profile offering $361,493 net income pa* with each lease boasting a redevelopment clause
• Sprawling 2 level freehold including 1,744 sqm* of office and warehouse plus a valuable 44 on-site car parks
• Favourably zoned Capital City Zone (CCZ1) under the Port Phillip Planning Scheme
• 40-50 storey surrounding height precedents enabling a potential high density residential, office, hotel or build-to-rent development (STCA)
• One of Melbourne’s most premium lifestyle locations including close proximity to the Clarendon Street & Bay Street retail & food strips, South Melbourne Market, Crown Casino, DFO South Wharf, Royal Botanic Gardens, Albert Park Lake, Port Phillip Bay and walking distance to Melbourne’s CBD
• Port Melbourne adjoins the CBD, Docklands, South Melbourne and Southbank precincts that will remain the focus of Melbourne’s Global City status
• Unrivalled road & public transport networks including immediate access to Lorimer Street and Montague Street connectivity to City Link, the Westgate Freeway, Monash Freeway, Queens Road with St Kilda Road nearby. Immediate tram access with Route 109 connecting to the CBD and Port Melbourne beach
The property is for sale via private treaty. For further information please contact the exclusively appointed Gross Waddell ICR directly.
*approx.
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