14-22 Woorayl Street, Carnegie

14–22

Woorayl Street, Carnegie Pace of Carnegie EXPRESSIONS OF INTEREST CLOSING THURSDAY 5TH DECEMBER 2019 AT 2PM

Contents 4 Executive Summary 5 Property Particulars 6 Location 8 Tenancy Details 15 Benefits Of Newly Built Strata Retail 19 Method of Sale

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Introduction Aston Commercial in conjunction with Teska Carson are excited to offer Tenancies 1, 6, 7 & 8, 14-22 Woorayl Street, Carnegie for sale by Expressions of Interest closing on Thursday 5th December 2019 at 2pm. The properties are being offered either individually or together in one line and we welcome EOI’s in all formats.

These fantastic retail spaces are superbly located on the doorstep to the recently upgraded Carnegie Railway Station and vibrant Koornang Road retail precinct.

With four tenancies available, three of which are leased to proven tenants on long leases across the hospitality and fitness fields and one available on a vacant possession basis these are fantastic investments in a historically strong retail suburb.

Aston Commercial and Teska Carson highly recommend these properties for your serious consideration.

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Executive Summary

PROPERTY Tenancies 1, 6, 7 & 8, 14-22 Woorayl Street, Carnegie

BUILDING AREA Tenancy 1 – 65 sqm Tenancy 6 – 147 sqm

Tenancy 7 – 170 sqm Tenancy 8 – 127 sqm

Zone: Mixed Use – Schedule 1 (MUZ1)

LOCATION

METHOD OF SALE

Located directly opposite the recently upgraded multi-million dollar Carnegie

For Sale by Expressions of Interest (EOI) closing on Thursday 5th December 2019 at 2pm. The

Railway Station and just 50 metres from the bustling Koornang Road retail strip

properties are offered either individually or as a whole and we welcome EOI’s in all formats

DESCRIPTION

TERMS OF SALE

Four brand new tenancies beneath the Pace of Carnegie development consisting of 152 Residential apartments

10% deposit with settlement in 60-90 days

EXCLUSIVE SELLING AGENT

EXCLUSIVE SELLING AGENTS

TESKA CARSON

ASTON COMMERCIAL

George Takis 0403 259 559 gtakis@teskacarson.com.au

Liam Rafferty 0421 886 655 liam@astoncommercial.com.au Jeremy Gruzewski 0422 211 021 jeremy@astoncommercial.com.au

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Property Particulars The Pace of Carnegie development is a 12 level mixed-use building with dual street frontages to both Woorayl and Arawatta Streets. Architecturally designed by the Buchan Group this building defines a modern centre-piece of Carnegie’s retail and residential neighbourhoods.

Featuring 152 residential apartments, featuring 1, 2 and 3 bedroom apartments the development also encompasses a rooftop infinity pool, terrace and gymnasium.

Located on the ground floor, these prominent retail spaces with striking glass facades create a strong retail presence.

BUILDING AREAS

Tenancy 1

65 sqm

1 car space

$30,090 net pa

Tenancy 6

147 sqm

3 car spaces

$66,150 net pa

Tenancy 7

170 sqm

2 car spaces

$62,900 net pa

Tenancy 8

127 sqm

2 car spaces

Vacant Possession

ZONING: Mixed Use - Schedule 1 To provide for a range of residential, commercial, industrial and other uses which complement the mixed-use function of the locality. To provide for housing at higher densities. To encourage development that responds to the existing or preferred neighbourhood character of the area. To facilitate the use, development and redevelopment of land in accordance with the objectives specified in a schedule to this zone.

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Location Carnegie is located just 12km south-east the CBD and as one of Melbourne’s new million dollar suburbs, it is distinguished by its prized diversity.

Well known for its popular retail strip Koornang Road which is home to numerous restaurants, national retailers and a number of local independent operators.

It is well connected and highly accessible by its proximity to Dandenong Road, North Road and the recently upgraded Carnegie Railway Station which forms part of Melbourne’s busiest rail corridor.

Chadstone Shopping Centre Koornang Road, Carnegie Glen Huntly Road, Elsternwick Eaton Mall, Oakleigh

Monash University McKinnon Secondary College Carnegie Primary School Holmesglen Institute of TAFE

Carnegie Railway Station Tram (3, 67) Bus (623, 626)

Koorang Park Caulfield Racecourse Ardrie Park Packer Park

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7

Clay -1

8 Carnegie Station & Sky rail

Caulfield Racecourse

Port Philip Bay

Caulfield Grammar

The Alfred Hospital

Melbourne Grammar School

Carnegie Town Centre

Caulfield Hospital

Glen Eira College

Glen Huntly Park

Princes Highway Central Park

Caulfield Station

MCG

AAMI Park

Cabrini Hospital

Arts Centre

CBD

Monash University

East Caulfield Reserve

Caulfield Park

Melbourne University

Swinburne University

Ch ads ton eS hop pin gC ent re

yton Station 12 minutes

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Tenancy Details

TENANCY 1 BEAN STUDIO Tenant HKMP Group Pty Ltd Rent $30,090 +GST Term 7 years Lease Start January 2020 Options 2 x 5 year options Rental Review 3% annually with market review at exercise of option Outgoings Paid by tenant Security Deposit Equal to 3 months rent plus GST

Cafe operator that is due to start fit out and commence operation early in 2020

*Approximate.

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Tenancy 1

8 Metres*

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TENANCY 6 CARVERY ESPRESSO Tenant Carvery Espresso Pty Ltd Rent $66,150 +GST Term 10 years Lease Start February 2020 Options 1 x 10 years Rental Review

Tenancy 6

4% annually with market reviews at exercise of option Outgoings Paid by tenant Security Deposit Equal to 6 months rent plus GST

Restaurant operator that is due to start fit out and commence operation early in 2020

13 M e t re s

*Approximate.

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*

Tenancy 6

et 13 M

re s *

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Tenancy 7

TENANCY 7 12 ROUNDS GYM Tenant McAttack Enterprises Pty Ltd Rent $62,900 +GST Term 7 years Lease Start November 2019 Options 2 x 5 year options Rental Review 3% annually with market review at exercise of option Outgoings Paid by tenant Security Deposit Equal to 6 months rent plus GST

*Approximate.

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Tenancy 7

16 M e t re s*

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TENANCY 8 This tenancy is being offered with vacant possession and is ideal for a range of operators including office, health and beauty or various forms of retail users.

Whilst suiting owner occupiers it also makes the perfect entry level investment for buyers looking to start or grow a portfolio.

20 Me tre s*

TENANCY

BUILDING FLOORPLAN

7 TENANCY

8

Vacant Possession

SOLD

Carvery Espresso

Bean Studio TENANCY

1

TENANCY

TENANCY

TENANCY

TENANCY

TENANCY

2

3

4

5

6

TENANCIES 2-5

These four tenancies are being anchored by IGA Supermarket which has already been sold.

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Benefits Of Newly Built Strata Retail

Minimal Land Tax With the rising land tax assessments particularly on freehold properties, strata has become an extremely vendor friendly option with annual costs at very low levels.

Depreciation Costs Depreciation refers to the loss in value a property experiences over time as a result of wear and tear. It’s a common topic among investors, as the Australian Taxation Office (ATO) allows owners of an income-producing property to claim a tax deduction for this depreciation.

A quantity surveyor will work out how the building’s structure and assets will depreciate over their lifespan.

Flexible Floor Plans These open plan layouts allow for a number of future uses within the tenancies catering to retail, hospitality, medical and office.

Modern Glass Frontages Floor to ceiling glass provides an abundance of natural light into each tenancy but also allows maximum window signage opportunity and street presence.

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Method of Sale

TERMS OF SALE

10% deposit with the settlement payable in 60-90 days

CONTRACT OF SALE & VENDORS STATEMENT

Available upon request

INSPECTIONS

Strictly by appointment with the exclusive selling agents

METHOD OF SALE

For Sale via an Expressions of Interest campaign closing Thursday 5th December 2019 at 2pm

EXCLUSIVE SELLING AGENT

EXCLUSIVE SELLING AGENTS

TESKA CARSON

ASTON COMMERCIAL

George Takis

Liam Rafferty

0403 259 559

0421 886 655 liam@astoncommercial.com.au

gtakis@teskacarson.com.au

Jeremy Gruzewski 0422 211 021 jeremy@astoncommercial.com.au

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DISCLAIMER This document has been prepared by Aston Commercial Pty Ltd for advertising and general information only. Aston Commercial Pty Ltd do not guarantee, warrant or represent that the information contained in this document is correct. Any interested party should undertake their own enquiries as to the accuracy of the information. Aston Commercial Pty Ltd excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damage arising therefrom.