High Exposure Freehold with Huge Development Upside
1111 Toorak Road, Camberwell VIC
Property Highlights
Description
Burgess Rawson is pleased to offer to the market 1111 Toorak Road, Camberwell VIC for sale via our Portfolio Auction Campaign 163.
This opportunity has the following key highlights:
+ Prime 475sqm* freehold site with important ROW access.
+ Huge 18 metre* frontage and exposure to Toorak Road and Camberwell Road.
+ High profile position at corner of Toorak Road and Camberwell Road with 37,680 VPD.**
+ Significant development upside up to 3 levels (STCA) with precedent nearby.
+ Premium Commercial 1 Zoning (C1Z) allowing for ultimate flexibility.
+ Well-presented 423sqm* showroom incorporating offices and mezzanine.
+ Important on-title car parking accessed via ROW off George Street and Collings Street.
+ Ideal position fronting high foot traffic pedestrian crossing and metres from tram stop.
+ Suits developers, owner occupiers and investors.
+ House of Recliners currently in occupation on short lease with options to May 2026.
+ Current gross rental well below market at $96 per/sqm, providing huge future rental uplift.
+ Camberwell: affluent inner east metro suburb with $2,632,500 median house price. ***
+ Current Net Income: $33,443pa* + GST
+ Potential at Market Rent: $150,000pa* + GST ($350 per/sqm)
To be sold via Portfolio Auction 163
10:30am AEST, Wednesday 13 September 2023
Crown Casino, Melbourne.
*Approx
**GapMaps
***Realestate.com.au
Property Details