Blue-Chip Essential Service Investment
356 Clarendon Street , South Melbourne VIC
Property Highlights
Description
Recently renewed 5-year lease to August 2026 plus option to 2031.
South Melbourne Bakery: iconic essential service tenant.
Fully leased shop and 2-bedroom first floor residence.
Strong and certain rental growth with fixed, compounding 3% increases.
Immaculately presented investment with generous covered alfresco area.
Crown Casino complex, Grand Prix circuit, South Melbourne Market, Woolworths, Coles, Anzac Station, MSAC all within 1km.
Two tram routes past the front door, only 9-minute commute to Collins Street.
Residential building approvals up 39% compared to FY21 and population forecast to increase by 44% by 2041 (1).
Over $1.5 billion in nearby development completed, approved or proposed including over 100,000sqm* of new office space (2).
South Melbourne: iconic inner-city locale, only 1.7km from Melbourne CBD.
Net Income: $76,680pa + GST
Two adjoining shops also available separately.
See separate listings for 358 Clarendon Street and 360-362 Clarendon Street (Corner Park Street).
Buy one or buy all three.
For Sale by Investment Portfolio Auction
10:30am (AEDT) Wednesday 11 May 2022
Crown Casino – River Room
*Approx
1 .id
2 Cordell Connect, Mazo, Urban Developer
Property Details