Land Rich Corner Freehold Opportunity | Occupy, Redevelop or Invest (STCA)

Burgess Rawson are pleased to offer to the market the Commonwealth Bank located in Ashburton VIC for sale via Auction Investment Portfolio 165.

The property has the following key investment highlights:

+ First time offered in over 25 years!
+ Opportunity to occupy, redevelop or invest (STCA)
+ Prominent 405 sqm* corner site with 59 metres* of triple street frontage
+ Ground floor building area of 252 sqm* with additional 25 sqm* first floor storage area and staff amenities (incl male & female toilets)
+ Commercial 1 Zoning (C1Z) offering significant upside, development possibility and potential to build up to 3 levels (STCA)
+ Exposure to High Street, a major metro Melbourne commuter road serviced by major arterials including Monash Freeway/City Link and Warrigal Road – over 22,000 vehicles passing the property daily**
+ Important rear lane access and 8 on-site car parking spaces – additional abundance of free public car parking available directly behind the property
+ CBA have given notice to vacate the premises at the expiration of their lease term dated 6th August 2024
+ Incredible make good clause; Commonwealth Bank must return premises to its original condition, including the removal of ATMs, Safes, Internal Partitions, Teller Joinery and Fixed Joinery
+ Positioned within the heart of ‘Ashburton Village’, a high performing retail precinct servicing an affluent catchment of Melbourne’s highly sought after suburbs Glen Iris, Malvern East, Camberwell and Ashburton
+ Rapidly growing catchment with a number of medium and high density apartment projects in proximity in different stages of planning and construction
+ Excellent public transport amenity nearby including Ashburton Train Station within 350m*
+ In close proximity to an array of national tenants, with IGA, Bakers Delight, Domino’s, F45, BFT, Snap Fitness and Shell Coles Express all within 400m*
+ Ashburton: 10km* from CBD, affluent southeast Melbourne growth suburb with a median house price of $1,975,000**
+ Current net income: $203,969 pa* + GST

To be sold by Investment Portfolio Auction (unless sold prior):
10:30am AEDT
Wednesday 6 December 2023
River Room, Crown Casino, Melbourne

*Approximately
**GapMaps
***Realestate.com.au