Trophy St Kilda Investment Opposite McDonalds – Major Future Redevelopment Opportunity
64-66 Acland Street, St Kilda VIC
Property Highlights
Description
+ Renewed Five (5) year lease to August 2024 plus option to August 2029
+ Lona: Popular bar and function venue with one of St Kilda’s largest outdoor dining areas (The Tenant owns and is responsible for the entire structure/fit out in the rear outdoor dining area)
+ Investor preferred net lease terms with tenant paying all usual outgoings excluding Land Tax
+ Well presented 295sqm venue including bar and restaurant
+ Significant recent tenant funded upgrade works with tenant funding construction of entire rear outdoor dining area (The Tenant owns and is responsible for the entire structure/fit out in the rear outdoor dining area)
+ Rare 617sqm Commercial 1 Zone (C1Z) landholding with important 12 metre frontage to Acland Street and ROW access
+ Major future redevelopment opportunity with zoning allowing for up to 4 storeys and basement (STCA)
+ Irreplaceable position opposite McDonalds, Luna Park, Palais Theatre and St Kilda beach
+ Within 300 metres of $550 million luxury Saint Moritz Development by Gurner – all pre-sold
+ Affluent inner metro suburb with $1,311,500 median house price*
+ St Kilda: World renowned beachside location only 6km from Melbourne CBD with 2 million visitors annually**
+ Net Income: $190,398pa + GST
For Sale by Investment Portfolio Auction
10:30am (AEDT) Wednesday 31 March 2021
*www.realestate.com.au
**www.budgetdirect.com.au
Property Details
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