5 Illowa Street Malvern East
5 Illowa Street Malvern East
INTRODUCTION
Allard Shelton are pleased to offer for sale 5 Illowa Street, Malvern East.
The property comprises a double storey building, with a retail frontage to Illowa Street of 5.6 metres (approx.) and a total building area of 187.5 sqm (approx.) across 2 quality tenancies.
Further, the property benefits from frontage to side and rear laneway which provides vehicular and pedestrian access.
Located in the highly sought after and tightly held retail precinct of Darling Village , just off , Malvern Road , the property provides a fantastic investment opportunity for the savvy buyer.
The property is being offered for sale by Auction on Wednesday 20 November 2024 at 12:30pm onsite.
We strongly recommend this property for your consideration.
$53,400
122.67
“Positioned in a prime location, in the heart of Darling Village”
LOCATION
The subject property is situated on the northern side of Illowa Street, between Clynden Avenue & Malvern Road. Malvern East is located approximately 12 kilometres south-east from the Melbourne CBD.
The property benefits from its central location within the Darling Village shopping precinct in Malvern East. The property is positioned in a prime location just off Malvern Road, approximately 400 metres from Hedgeley Dene Gardens, and 100 metres from Darling train station. 5 Illowa Street, Malvern East is situated within the Darling Village shopping precinct which comprises an array of shopping amenities, health & beauty services, cafes and restaurants.
ACCESSIBILITY
The property further benefits from close access to various public transport facilities including Darling Train Station which is located approximately 100 metres from the property and bus services along Darling Road.
The property sits within close proximity to Warrigal Road and Dandenong Road and is easily accessed by the Monash Freeway.
PROPERTY DESCRIPTION
5 Illowa Street, Malvern East comprises a double storey building, primarily of brick construction, divided into two quality tenancy areas (retail & residential).
The property comprises a high quality retail tenancy on Illowa Street in addition to an attractive upper level residential tenancy with access via the property’s side and rear laneway. The property also has secure onsite parking for two (2) vehicles with ample street parking available on Illowa Street.
Illowa Street Malvern East
Positioned in a prime location just off Malvern Road, within Darling Village, the property provides a fantastic investment opportunity for the savvy buyer. LAND AREA
BUILDING AREA
STREET FRONTAGE
5.6 metres* to Illowa Street and 21.8 metres* to Laneway
ZONING
Commercial 1 Zone under the City of Stonnington Planning Scheme
TITLE DETAILS
Lot 1 on Plan of Subdivision 636219X
Volume 11386 Folio 297
Lot 2 on Plan of Subdivision 636219X
Volume 11386 Folio 298
TENANCY DETAILS
5 Illowa Street Malvern East
Retail Shop
Lessee: SP Salon
Rental: $30,000 per annum* (plus GST)
Lease Term: Twelve (12) Months
Further Terms: Two (2) further terms of twelve (12) months
Rent Reviews: Market Review at option
Outgoings: Payable by the Lessee
Residential Flat
Estimated Rental: $23,400 per annum* (plus GST)
Lease Term: Six (6) Months
Further Terms: One (1) further term of Six (6) Months
* approximately
Method of Sale: Auction Wednesday 20 November 2024 at 12:30pm
Deposit: 10% on signing of Contract of Sale
Balance: 30/60 days from day of Sale
Inspections: By Appointment
DISCLAIMER The information contained in this report is published by Allard Shelton Pty Ltd to assist potential purchasers in deciding whether or not they wish to make further enquiries with respect to the property and should not be used for any other purpose. It is not intended that any of the information contained in this report will constitute any representation or offer by the Vendor or by Allard Shelton Pty Ltd. On contrary, prospective purchasers should obtain their own advice and make their own enquiries to satisfy themselves as to the correctness of the information. In particular, all prospective purchasers should check and independently verify all descriptions, dimensions, references to conditions and necessary permissions for use and occupation and any related statements. Information in this report which has been provided to Allard Shelton Pty Ltd by others is passed on to prospective purchasers without any steps having been taken to independently verify the information and accordingly Allard Shelton Pty Ltd gives no warranty to its accuracy. This report is provided to the recipient on a confidential basis and is not to be re-supplied to any other person without the prior written consent of Allard Shelton Pty Ltd. The content of this report and the contract documents may be varied by subsequent versions. On the day of Sale prospective purchasers should check that they are satisfied with all documentation.