176-180 Kangaroo Road, Hughesdale

176 -180

KANGAROO ROAD Hughesdale

FOR PRIVATE SALE

CONTENTS

04

INTRODUCTION

06

EXECUTIVE SUMMARY

10

LOCATION

14

PROPERTY PARTICULARS

15

SUBURB PROFILE

18

TENANCY DETAILS

20

MARKET SALES ACTIVITY

22

SALE METHOD

3

INTRODUCTION Aston Commercial are pleased to offer 176-180 Kangaroo Road, Hughesdale for private sale.

This substantial site of 1,533 sqm* on the corner of Bowen Street, is situated between Poath Rd and Warrigal Rd in the premium suburb of Hughesdale.

The offering lends itself to several potential development outcomes including Child Care, Aged Care, Medical/Allied Health, townhouse site or multi-level residential development (STCA).

This is an outstanding opportunity to secure a significant land holding within one of Melbourne’s established inner suburbs. Hughesdale is positioned in a sought-after location nestled between Murrumbeena and Oakleigh and only moments from the world-famous Chadstone Shopping Centre.

Offering developers, owner occupiers and astute property people a multitude of options to develop the site and capitalise on the strong underlying local market.

Aston Commercial believes there is enormous upside to this site and encourages your serious consideration.

4

EXECUTIVE SUMMARY

176 -180

KANGAROO ROAD Hughesdale

Prime corner site with significant development upside (STCA). The location benefits from an exceptional position with unrivalled retail and transport amenity.

LEASE DETAILS

LAND AREA

Currently leased to Nalsmith Pty Ltd trading as Krooz Automotive Income: $60,770 pa plus GST

1,533 sqm*

BUILDING AREA

ZONING

350 sqm*

General Residential Zone - Schedule 3 (GRZ-3)

METHOD OF SALE

TERMS OF SALE

For Private Sale

10% Deposit with the balance in 30 – 120 days *approx.

EXCLUSIVE SELLING AGENTS

6

Rodney King

Jeremy Gruzewski

Director of Agency 0422 839 870 rodney@astoncommercial.com.au

Executive Director 0422 211 021 jeremy@astoncommercial.com.au

Short term holding income from existing tenant.

L O C AT I O N 176-180 Kangaroo Road, Hughesdale is on the corner of Bowen Street situated 12.8km* south east of the Melbourne CBD. The property is surrounded by an abundance of retail and lifestyle amenity. The site is also well connected to public transport, arterial networks and within easy access to multiple schools and university campuses.

Retail Oakleigh Centro with Coles, Woolworths 500m Oakleigh’s Famous Eaton Mall 550m Oasis on North Road 1.2km Chadstone Shopping Centre 1.3km Murrumbeena Shopping village 1.7km Koornang Road Carnegie Retail Strip 2.6km Monash Medical Centre 3.8km

Education Monash University Caulfield 4.1km Monash University Clayton 4.1km Holmesglen 1.8km Sacred Heart Girls College 200m Oakleigh Grammar 450m Hughesdale Primary School 750m

Parks & Recreation Duncan McKinnon Reserve 1.6km Murrumbeena Park 850km Packer Park 1.8km The Metropolitan Golf Course 1.25km Huntingdale Golf Course 1.8km GESAC 2.6km Urban Forrest Reserve 1.4km Oakleigh Recreation Centre 1.4km

Transport Oakleigh Train Station & Bus Interchange 400m Hughesdale Train Station 900m Warrigal Road 300m Dandenong Road 900m Monash Freeway 1.9km 10

P R O P E R T Y PA R T I C U L A R S

DESCRIPTION

LAND DIMENSIONS AND AREA

Erected on the property is a brick building used as a mechanical workshop.

Kangaroo Road Frontage

30.48 metres*

Bowen Street Frontage

50.29 metres*

Total Land Area:

1,533 sqm*

There is a large reception/waiting area, kitchen and toilet facilities. The workshop is accessible via multiple roller doors.

The site benefits from numerous crossovers allowing for a number of entry/exit options.

There are separate sheds and undercover areas on the site. The main building’s roof was replaced around 2014.

TITLE PARTICULARS

Volume 07791 Folio 056 Lot 1 on Title Plan 449579U

14

*approx.

ZONING

General Residential Zone – Schedule 3 GRZ-3 under the city of Monash planning scheme.

SUBURB PROFILE

Hughesdale Median House Price Median Unit Price

$1,620,500 $752,500

Murrumbeena Median House Price Median Unit Price

$1,648,000 $566,250

Oakleigh Median House Price Median Unit Price

$1,405,000 $636,000

Source: realestate.com.au 1/2/2022

15

T E N A N C Y D E TA I L S Krooz Automotive (previously known as Poath Road Automotive) has been operating since 2004.

During that time we have been providing great automotive service and value to the Hughesdale/ Oakleigh area. www.kroozautomotive.com.au

18

The property is being sold subject to a lease summarised as follows: Tenant Business Name

NALSMITH PTY LTD Trading As KROOZ AUTOMOTIVE

Rent

$60,770 pa plus GST & outgoings

Lease Term

Three (3) years commencing 1st March 2019

Further Term

Three (3) further terms of Three (3) years each

Rent Reviews

Annual 3% increases

Outgoings

All statutory outgoings are paid by the tenant.

The lease includes a “Right To Terminate” Clause which can be activated with 60 days written notice.

19

RECENT MARKET ACTIVITY

1192-1200 Dandenong ROAd, Murrumbeena Date:

1/11/2021

Sale price:

$3,300,000

Zoning:

C2Z

Land area:

1,292 sqm*

Land rate:

$2,554

1072-1074 Glen Huntly ROAd, Glenhuntly

20

Date:

1/10/2021

Sale price:

$2,000,000

Zoning:

GRZ

Land area:

525 sqm*

Land rate:

$3,809

1304 Glen Huntly ROAd, Glenhuntly Date:

1/10/2021

Sale price:

$1,980,000

Zoning:

GRZ2

Land area:

759 sqm*

Land rate:

$2,608

220-224 Waverley ROAd, East Malvern Date:

1/12/2021

Sale price:

$2,500,000

Zoning:

GRZ-7

Land area:

698 sqm*

Land rate:

$3,581

21

SALE METHOD

176 -180

KANGAROO ROAD Hughesdale METHOD OF SALE

TERMS OF SALE

For Private Sale

10% Deposit with the balance in 30 – 120 days

INSPECTIONS

CONTRACT OF SALE & VENDORS STATEMENT

Strictly By Appointment with the exclusive selling agents

Available upon request

VENDORS SOLICITOR KPA Conveyancing Pty Ltd

EXCLUSIVE SELLING AGENTS

22

Rodney King

Jeremy Gruzewski

Director of Agency 0422 839 870 rodney@astoncommercial.com.au

Executive Director 0422 211 021 jeremy@astoncommercial.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