Landmark 3,400sqm Site Adjacent to ALDI | Short Term Leases – RIpe for Development

Burgess Rawson in conjunction with DBRE are delighted to present to market 283, 285-287 Bay Road & 2 Tibrockney Street, Cheltenham VIC for sale via Expressions of Interest closing Thursday 23 May at 4pm AEST.

This opportunity has the following key highlights:
+ Prominent 3,400 sqm* Commercial 2 Zoned site, within inner-south east Bayside Melbourne.
+ Strong holding income via short term leases to longstanding and well established tenants, Monjon Security and Premier Pavers.
+ Valuable Commercial 2 Zoning provides significant scope for multiple development outcomes with only 6.94%^^^ of Cheltenham with the same zoning.
+ Well maintained and presented 2,149sqm* buildings with a versatile mix of warehouse, showroom and office providing strong re-purposing potential for owner occupiers or investors.
+ Prime 116 metre* dual street frontages to Bay Road and Tibrockney Street ensuring excellent exposure and multiple access points.
+ Offered for sale with three (3) titles and scope to occupy, lease or sell-down individually.
+ Directly adjacent to ALDI & central to Tradelink, National Storage, Dan Murphy’s & Westfield Southland.
+ Position perfect with easy access to main arterials including Bluff Road, Beach Road, South Road and the Nepean Highway.
+ Cheltenham: South-east metropolitan suburb 18km** from Melbourne CBD with a median house price of $1,200,000.^^
+ Cheltenham: Features two train stations and is included in the Victorian Government Suburban Rail Loop Project ($216b)*** due for completion in 2035
+ City of Bayside: affluent LGA, population forecast to grow 17% to 125,879 by 2041.
+ Opportunity for developers, owner occupiers, land-bankers and/or investors to take advantage of the multiple titles and record high rental growth.
+ Estimated Holding Income: $412,000 pa* + GST

To be sold by Expressions of Interest
Closing Thursday 23 May 2024 at 4pm AEST

Burgess Rawson
Shaun Venables | 0411 860 865
David Napoleone | 0417 308 067
Romanor Falconer | 0413 830 808
Matthew Wright | 0458 290 588

DBRE
David Bancroft | 0418 318 747
James Davie l 0412 209 696

*Approx
**Domain.com.au
***AustralianFinancialReview
^Forecast.id
^^Realestate.com.au
^^^Landchecker.com.au