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SOLD

64-66 Acland Street, ST KILDA, VIC 3182

Development Potential
DETAILS
Trophy St Kilda Investment Opposite McDonalds – Major Future Redevelopment Opportunity
  • Rare 617sqm site – ROW access
  • Zoning allows for 4 storeys (STCA)
  • Renewed 5 year lease plus option

+ Renewed Five (5) year lease to August 2024 plus option to August 2029

+ Lona: Popular bar and function venue with one of St Kilda’s largest outdoor dining areas (The Tenant owns and is responsible for the entire structure/fit out in the rear outdoor dining area)

+ Investor preferred net lease terms with tenant paying all usual outgoings excluding Land Tax

+ Well presented 295sqm venue including bar and restaurant

+ Significant recent tenant funded upgrade works with tenant funding construction of entire rear outdoor dining area (The Tenant owns and is responsible for the entire structure/fit out in the rear outdoor dining area)

+ Rare 617sqm Commercial 1 Zone (C1Z) landholding with important 12 metre frontage to Acland Street and ROW access

+ Major future redevelopment opportunity with zoning allowing for up to 4 storeys and basement (STCA)

+ Irreplaceable position opposite McDonalds, Luna Park, Palais Theatre and St Kilda beach

+ Within 300 metres of $550 million luxury Saint Moritz Development by Gurner – all pre-sold

+ Affluent inner metro suburb with $1,311,500 median house price*

+ St Kilda: World renowned beachside location only 6km from Melbourne CBD with 2 million visitors annually**

+ Net Income: $190,398pa + GST

For Sale by Investment Portfolio Auction

10:30am (AEDT) Wednesday 31 March 2021

*www.realestate.com.au

**www.budgetdirect.com.au

Remember to mention you found this property on DevelopmentReady.com.au

DEVELOPMENT SITE SUMMARY
Auction:
TITLE:
Price on Request
Property Area
AREA:
617 m² (*approx)
Property Type
TYPE:
Commercial, Office, Other, Retail / Shopping Centre, Office, Other, Retail / Shopping Centre
Development Potential
DEVELOPMENT APPROVAL:
Major future redevelopment opportunity with zoning allowing for up to 4 storeys and basement (STCA)

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64-66 Acland Street, ST KILDA, VIC 3182

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