182 Johnston Street, Fitzroy

THE ROCHESTER T E N A N C I E S

1 & 2

FOR SALE OR LEASE TENANCIES 1 & 2, 182 JOHNSTON STREET, FITZROY

THE ROCHESTER R E T A I L

1 & 2

FOR SALE OR LEASE

CONTENTS EXECUTIVE SUMMARY

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LOCATION 06 PROPERTY PARTICULARS

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WHY PURCHASE/LEASE

12

MARKET ACTIVITY

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METHOD OF SALE

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INTRODUCTION Aston Commercial are delighted to offer Tenancies 1 and 2 at 182 Johnston Street, Fitzroy for Sale or Lease.

These two outstanding creative spaces are brand new and located in the highly desirable innercity suburb of Fitzroy a mere 3 kilometres* from Melbourne’s CBD and form part of ‘The Rochester’.

Fitzroy occupies a nexus of famed tenancy strips that deliver an abundance of fashion, food, entertainment, home furnishings, art and everything in between.

‘The Rochester’ is a boutique 6 level (plus basement) mixed-use development comprising of two retail/ office suites and 24 magnificent architecturally designed apartments - designed with owner occupiers in mind.

From Victoria to Alexandra Parade, the main drag of Brunswick Street presents a colourful line up of high-end, pop and alternative outlets in equal measure. Find a vintage treasure at Hunter Gatherer.

Check out high-end local label ‘Cloke’ or rediscover a Fitzroy original at Scally and Trombone.

The two commercial spaces are versatile and are suitable for furniture/homewares, as well as creative offices such as architects or a photographer’s studio.

Aston Commercial highly recommend these superb commercial assets for your serious consideration.

EXECUTIVE SUMMARY

EXECUTIVE SUMMARY

m2

PROPERTY

DESCRIPTION

Tenancies 1 & 2, 182 Johnston Street, Fitzroy

Two Brilliant Creative Opportunities within the soon to be completed ‘The Rochester Fitzroy’ Development comprising of 2 retail tenancies and 24 luxurious apartments.

BUILDING AREA

TERMS OF SALE

Tenancy 1 - 83sqm* Tenancy 2 - 198sqm*

10% Deposit Balance up to 30/60/90 days

*approx

LOCATION Positioned on the Corner of Johnston Street and Rochester Street a mere 3 kms* North of Melbourne’s Central Business District.

METHOD OF SALE For immediate Private Sale or Lease.

TERMS OF LEASE Seeking five (5) year terms with options.

ZONING & PLANNING Commercial 1 Zoning City of Yarra.

EXCLUSIVE SELLING AGENTS

Jeremy Gruzewski

Max Warren

Director of Agency 0422 211 021 jeremy@astoncommercial.com.au

Sales Executive 0488 296 892 max@astoncommercial.com.au

182 JOHNSTON STREET, FITZROY

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LOCATION The property is well positioned in the heart of Fitzroy surrounded by high profile neighbours including Forty Winks, Matt Blatt and My Pet Warehouse to name a few, and only a short stroll to all that Brunswick Street has to offer.

Fitzroy is fast becoming one of the trendiest suburbs in Melbourne located just 3km* north of the Melbourne CBD and forms part of the Yarra City Council. Fitzroy has a distinct flavour and a diverse population united by a bohemian spirit, with cafes, bookstores and galleries humming within Fitzroy’s unique community.

Fitzroy boasts a median house price of $1,377,500, a median apartment price of $742,000 and a median rental yield of $700 per week as at February 2020.

Sought-after inner-city locale just 3km* from the Melbourne CBD Immediate access to extensive public transport linkages via Melbourne’s unique tram network Easy access to Melbourne’s major road arterials including the Eastern Freeway and Punt Road

Some nearby businesses and infrastructure include:

Forty Winks, Matt Blatt, My Pet Warehouse,

Jimmy Buttons, Great Dane Furniture

China Bar, The Fitz, Faradays Cage

No. 11 Tram 210m*

Naked for Satan, Blackcat, Black Pearl,

The Rochester Hotel

Eastern Freeway, Punt Road Fitzroy Gardens, Carlton Gardens, Melbourne Museum

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182 JOHNSTON STREET, FITZROY

LOCATION

CBD 3KM S

182 JOHNSTON STREET, FITZROY

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PROPERTY PARTICULARS

BICYCLE STORAGE

CAR LIFT

BICYCLE STORAGE CAR LIFT

19.

20.

21.

22.

23.

24.

BUILDING ENTRANCE

WALKWAY

GARDEN

4.

3.

2.

1.

< 7.

6.

5.

ROCHESTER STREET >

LIFT

WALKWAY

GARDEN

GARDEN

DDA WC & SHW

SHOP 2

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182 JOHNSTON STREET, FITZROY

JOHN STON STREE T >

SHOP 1

PROPERTY PARTICULARS Designed by award winning architecture studio Ola in collaboration with Breathe Architecture is The Rochester.

An outstanding mixed use development that draws on cultural inspiration from the surrounding neighbourhood, delivering exceptional quality, durability and style.

Beneath the 24 contemporary homes are two outstanding commercial spaces. Great ceiling heights and ample natural light make this commercial space ideal for retail, office or studio accommodation. The raw shell is ready for you to create your own personal space for your needs!

While offered as two separate titles the tenancies can be combined to flow as one if a larger space is required.

PROPERTY DESCRIPTION AREA

CAR PARKS

Tenancy 1

83 sqm

1

Tenancy 2

198 sqm

2

Total

281 sqm

3

Local Council

Yarra City Council

Zoning

Commercial 1

182 JOHNSTON STREET, FITZROY

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10

182 JOHNSTON STREET, FITZROY

182 JOHNSTON STREET, FITZROY

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WHY PURCHASE/LEASE

The rent vs buy argument

Excellent depreciation benefits

Interest rates remain at all time lows and therefore it is much cheaper to own than rent!

For example, tenancy 1 market rent is $41,500 per annum net. If you borrow 70% your interest only cost is going to be circa $20,916 (based on an interest rate of 4%). So if you have the deposit, it just makes sense!

Being brand new, both tenancys present outstanding depreciation benefits â&#x20AC;&#x201C; BMT Tax depreciation specialists have provided an indicative depreciation schedule for your consideration.

Minimal Land Tax

Location Location Location!

Land Tax continues to rise in Australia particularly when it comes to freehold assets. Strata has fast become a favourite among investors as annual costs are typically at much lower levels than comparable freehold properties.

Located in an ideal position on Johnston Street both properties offer outstanding amenity being only a stoneâ&#x20AC;&#x2122;s throw away from all the iconic cafes and eateries Fitzroy has to offer.

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182 JOHNSTON STREET, FITZROY

WHY PURCHASE/LEASE

MARKET ACTIVITY Strata Retail Sales PSM (L)

Address

Sale Date Sale Price

13 Smith Street, Fitzroy

Oct 2019

$805,000

90

$8,945

98 Gertrude Street, Fitzroy

Dec 2018

$1,420,000

147

$9,659

1/237 Napier Street, Fitzroy

May 2019

$2,200,000

192

$11,458

360A Brunswick Street, Fitzroy

Feb 2018

$1,450,000

95

$15,263

Lease Date

Lease Price

13 Smith Street, Fitzroy

Jul 2019

$50,000

90

$555

91 Smith Street, Fitzroy

Dec 2019

$39,000

70

$557

92 Gertrude Street, Fitzroy

Aug 2019

$40,000

50

$800

246 Brunswick Street, Fitzroy

Oct 2018

$40,000

110

$363

Recent Leasing Activity Address

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Build Area (m2 )

182 JOHNSTON STREET, FITZROY

Build Area (m2 )

PSM (L)

MARKET ACTIVITY

BRUN

ST REE K C I SW

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THE ROCHESTER R E T A I L

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1 & 2

FOR SALE OR LEASE

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182 JOHNSTON STREET, FITZROY

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182 JOHNSTON STREET, FITZROY

182 JOHNSTON STREET, FITZROY

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METHOD OF SALE 18

182 JOHNSTON STREET, FITZROY

METHOD OF SALE

TERMS OF SALE

INSPECTIONS

10% deposit with settlement terms of 30/60/90 days

Strictly by appointment with selling agents

CONTRACT OF SALE & VENDORS STATEMENT Available on request

METHOD OF SALE For immediate Private Sale or Lease

EXCLUSIVE SELLING AGENTS

Jeremy Gruzewski

Max Warren

Director of Agency 0422 211 021 jeremy@astoncommercial.com.au

Sales Executive 0488 296 892 max@astoncommercial.com.au

182 JOHNSTON STREET, FITZROY

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