POINT OF INTEREST:
To say you’re in the mix would be an understatement. Situated between Brunswick and Nicholson streets, 51-55 Johnston Street is positioned in one of the city fringe’s most desirable, vibrant, and amenity-filled locations. The building itself offers three levels – combining for a gross building area of 1,292 sqm* - featuring both tenanted and vacant space. Income is derived from a long-term tenant that occupies the second floor, whilst the vacant ground and first floors offer a blank canvas ready for the purchaser to do as they please. Circling back to this point on the map, the site is just 725 m* to Alexandra Parade and the Eastern Freeway, 1.5 km* to Hoddle Street, and 2.1 km* to the CBD. A plethora of public transport options are on your doorstep – Johnston Street bus routes, Nicholson, and Brunswick Street tram routes and a short 1.5 km* to Parliament train station and the City Loop – but most importantly, it’s just 50 m* to Mile End Bagels.
- 1,292 sqm* gross building area.
- 453 sqm* land area.
- Part let income (level 2) of $113,608.86 per annum gross.
- Substantial rental upside for investors - potential income circa $350,000 per annum net.
- Commercial 1 Zoning.
- Secure ground floor parking and rear lane access.
- 725 m* to Alexandra Parade and the Eastern Freeway.
- 1.5 km* to Parliament station and the City Loop.
POINT OF VIEW:
The development criteria are all there – an A-grade city fringe location, dual street access, and favourable zoning for commercial or residential redevelopment. This exceptional Fitzroy offering is also certain to attract the attention of owner-occupiers and investors..
Pricing excludes GST
Remember to mention you found this property on DevelopmentReady.com.au
453 m² (*approx)
Commercial, Office, Other, Office, Other
Commercial development Opportunity (STCA)
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