Generational Corner, First Time Ever Offered to Market

360-362 Clarendon Street , South Melbourne VIC

Property Highlights

Diverse income stream, retail + office
Annual fixed increases, from 3% to 5%
Conservative rents, significant upside

Description

Generational 262sqm* corner land footprint, first time ever offered to market.
Trophy retail investment in prized Emerald Hill precinct.
Crown Casino complex, Grand Prix circuit, South Melbourne Market, Woolworths, Coles, Anzac Station, MSAC all within 1km.
Diverse income stream from four retail shops and 332sqm* office space with dedicated Park Street entry.
Tenants include longstanding South Melbourne Fish and Chips and local favourite Relief Unit 1. cafe.
Strong and certain growth with annual fixed increases on all leases ranging from 3% to 5%.
Conservative rents with scope for significant future upside.
Two tram routes past the front door, only a 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: $192,742pa + GST

Two adjoining shops also available separately.
See separate listings for 356 Clarendon Street and 358 Clarendon Street.
Buy one or buy all three.

For Sale by Private Treaty

*Approx
1 .id
2 Cordell Connect, Mazo, Urban Developer

Property Details

Listing
Sale
Current Tenant
Tenanted
Land Size
262 SQM
Building Area
507 SQM

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