708 & 710 High Street, Armadale

708 & 710

HIGH STREET ARMADALE

for sale by Public Auction on Thursday 16th June at 12 noon on-site

TWO PROPERTIES TO BE AUCT

CONTENTS

TIONED AS ONE!

04

INTRODUCTION

06

EXECUTIVE SUMMARY

08

WHY BUY?

10

LOCATION

18

PROPERTY PARTICULARS

19

FLOOR PLANS

22

TENANCY DETAILS

26

SALE METHOD

3

710

HIGH STREET

INTRODUCTION Aston Commercial in conjunction with Premier

This is a rare opportunity to acquire two

Commercial are pleased to offer 708 & 710 High

adjoining freehold titles in one of Melbourne’s

Street, Armadale to the market for sale by Public

most sought-after city fringe locations.

Auction on Thursday 16th June at 12 noon on-site.

Located on the southern side of High Street near the intersection of Orrong Road.

4

708

HIGH STREET

Currently leased, generating income from both

This is a prime opportunity to grow your

properties there is the potential to occupy or invest

investment portfolio with several long-term

but also to develop the site in the medium term

strategies these properties could unlock.

unlocking a modern mixed use development.

We highly recommend for your serious consideration.

5

EXECUTIVE SUMMARY

Two single level freehold titles to be sold as one. Currently trading to two individual hospitality tenants operating as Street Talk Expresso & La Dolce Vita Pizza with a combined income of $81,500 pa.

LOCATION

LAND AREA

Ideally located just 7 kms south-east of the Melbourne CBD. Positioned on the Southern side of High Street near the intersection of Orrong Road, a location that caters for all things lifestyle.

708 High Street: 194 sqm* 710 High Street: 185 sqm*

BUILDING AREA

ZONING

708 High Street: 108 sqm* 710 High Street: 126 sqm*

C1Z - Commercial 1 Zone

METHOD OF SALE

TERMS OF SALE

For Sale by Public Auction on Thursday 16th June 2022 at 12 noon on-site

10% deposit with the balance payable in 60 days *approx.

EXCLUSIVE SELLING AGENTS

6

Liam Rafferty

Fred Nucara

Jason Perry

Associate Director 0421 886 655 liam@astoncommercial.com.au

Executive Director 0418 567 560 fred@astoncommercial.com.au

Director 0412 560 510 jason@premierc.com.au

WHY BUY?

Two individual titles to be sold as one

8

Flexible Commercial 1 – C1Z zoning allowing for future mixed use development (STPA)

Blue chip with majo to High

p location or exposure h Street

Rear laneway access with on-site parking

A plethora of options for buyers with the ability to occupy or hold and invest

9

LOCATION Armadale is located just 7 kms southeast of the city, sitting between the equally prestigious suburbs of Toorak and Malvern.

High Street is a prominent retail strip of cafes, boutiques, galleries and health & beauty providers. Off the main roads you’ll find lush green residential streets and highly sought-after private schools.

Armadale’s convenient and attractive location makes it a popular choice for younger people living an independent lifestyle. But it’s also a very established suburb and you’ll find many long-time locals living here too, either as a family or as empty nesters.

For transport, a number of tram lines traverse the suburb, Toorak Railway Station and Armadale Railway Station are also easily accessible.

Median House price $2,635,000

Surrounding Suburbs:

Toorak

$5,000,000

Malvern

$3,050,000

Caulfield North

$2,525,000

Prahran

$1,767,500

Source www.realestate.com.au

10

Surrounded by some of Melbourne’s most well-known suburbs including South Yarra, Toorak and Malvern, Armadale has become one of the most sought after areas within the inner-city.

This property’s location is hugely popular with immediate access to a wide range of commercial, residential and lifestyle destinations including:

Local Businesses • Orrong Hotel 20 m* • Kings Arcade 850 m* • Mount Erica Hotel 700 m* • Hawksburn Village 1.2 km* • Glenferrie Road Precinct 1.5 km* • Chapel Street Precinct 1.7 km* • Malvern Central Shopping Centre 1.9 km* • Prahran Market 2.4 km*

Transport • Toorak Railway Station 550 m* • Armadale Railway Station 700 m*

Recreation • Toorak Park 280 m* • Victoria Gardens 900 m*

Transport services this property like no other with a tram stop on the doorstop and its central location within a short stroll to either Armadale or Toorak Railway stations.

With access to nearby Dandenong Road which services traffic into the city and out to the south-eastern suburbs via the iconic Chadstone Shopping Centre.

High Street is a popular shopping destination where you will find high-end fashion retailers, well known eateries and many designer homeware businesses.

14

PROPERTY PARTICULARS

708 High Street

710 High Street

TITLE PARTICULARS

TITLE PARTICULARS

Volume: 08089 Folio: 450 Lot 2 on Plan of Subdivision 029593

Volume: 10695 Folio: 926 Lot 3 on Plan of Subdivision 029593

LAND DIMENSIONS AND AREA

LAND DIMENSIONS AND AREA

Front Premises

Front Premises

High Street Frontage

6.09 metres*

High Street Frontage

6.08 metres*

Laneway Frontage

5.90 metres*

Laneway Frontage

7.06 metres*

Depth Total Land Area

30.48 metres* 194 square metres*

Depth Total Land Area

30.48 metres* 185 square metres*

ZONING Under the City of Stonnington Planning Scheme the land is zoned Commercial 1 – C1Z

18

FLOOR PLANS

19

TENANCY DETAILS

708 HIGH STREET, ARMADALE The property is being sold subject to a lease summarised as follows: Tenant Business Name

La Dolce Vita

Current Rent

$34,778.04 pa + GST

Lease Term

Three (3) years

Lease Commencement

1st April 2021

Options

One further term of three (3) years

Rent Reviews

Fixed 3% annual increases

Outgoings

Paid by tenant

Longstanding and popular Armadale Takeaway Pizza Bar & Kitchen with a separate residence at the rear.

www.ldvpizza.com.au 22

710 HIGH STREET, ARMADALE The property is being sold with monthly tenancy.

Tenant Business Name

Street Talk Espresso

Current Rent

$46,722.04 pa + GST

Lease Term

Month to month

Lease Commencement

17th July 2017

Options

Nil

Rent Reviews

Fixed 4% annual increases

Outgoings

Paid by tenant

Street Talk Espresso is a simple celebration of hospitality, with a relaxed and comfortable environment both in the courtyard and the front room. It is the perfect place to unwind from daily pressures and catch up with friends. Whilst enjoying flavours of extraordinary substance transcending ones tastebuds. www.streettalkespresso.com.au 23

SALE METHOD

METHOD OF SALE

TERMS OF SALE

For Sale by Public Auction on Thursday 16th June 2022 at 12 noon on-site

10% deposit with the balance payable in 60 days

INSPECTIONS

CONTRACT OF SALE & VENDORS STATEMENT

Strictly by private appointment with the exclusive selling agents.

Available upon request.

EXCLUSIVE SELLING AGENTS

26

Liam Rafferty

Fred Nucara

Jason Perry

Associate Director 0421 886 655 liam@astoncommercial.com.au

Executive Director 0418 567 560 fred@astoncommercial.com.au

Director 0412 560 510 jason@premierc.com.au

DISCLAIMER “Materials” refers to any representations, statements, documents, data, statistics, measurements, estimates, figures, calculations, projections, approximates or otherwise stated by Aston Commercial Pty Ltd whether verbally or in writing. The Materials have been collated to assist potential purchasers for advertising and general information only to assist potential purchasers to decide whether to proceed with further investigation in relation to the property or the land. The Materials provided by Aston Commercial does not constitute any offer or contract of sale and is not to be relied upon prior to signing any relevant contract. Any dimensions or measurements of the property or the land (internal and external) are approximates only and should not be relied upon before signing any contract. The potential purchaser must conduct investigations to satisfy themselves that any Materials provided are accurate. Aston Commercial excludes unequivocally all inferred or implied terms, conditions and warranties arising out of the Materials and excludes all liability for loss and damage arising therefrom. *Approximate