1036 Glen Huntly Rd & 1A Laura St, Caulfield South

1036

Glen Huntly Road

1a

Laura Street

EXPRESSIONS OF INTEREST CLOSING T H U R S D AY 3 1 S T O C T O B E R 2 0 1 9 AT 2 P M

Contents

2

5

Executive Summary

7

Location

8

Property Particulars

10

Project Development Overview

12

Strength of the Child Care Sector

14

Market Sales Activity

19

Method of Sale

Introduction Aston Commercial is pleased to offer 1036 Glen Huntly Road & 1A Laura Street, Caulfield South for sale via an Expressions of Interest campaign closing Thursday 31st October 2019 at 2pm.

This is a rare opportunity to acquire a permit ready site for a state-of-the-art, multi-level childcare centre in a suburb heavily populated by young families.

Suiting builders and developers, this site is ready to go in its existing form or could be redesigned into various residential projects, subject to obtaining Council approval.

CHADSTONE SHOPPING CENTRE

Pre-construction demolition and excavation (basement and footings) works may provide considerable cost and time savings for any development of this site.

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

TRAM (ROUTE 67)

T

G LE N H U N T LY R A I LWAY S TAT I O N

BOORAN RESERVE

1a 1036 BOORAN ROAD

LY R O A D GLEN HUNT

33

This is a rare opportunity to acquire a permit ready site for a state-of-the-art, multi-level childcare centre in a suburb heavily populated by young families.

4

Executive Summary

PROPERTY ADDRESS

LAND AREA : 1,328 sqm (approx.)

1036 Glen Huntly Road & 1A Laura Street, Caulfield South

ZONE: General Residential Zone - Schedule 2 (GRZ2)

DESCRIPTION

PLANNING PERMIT:

Vacant double land allotment that currently consists of pre dug basement and foundation works.

Use and development of a double storey child care centre of 128 places with basement parking for 28 cars.

TERMS OF SALE

METHOD OF SALE

10% deposit with the balance payable in 60-90 days.

For Sale via an Expressions of Interest campaign closing Thursday 31st October 2019 at 2pm.

Talk to Us

Jeremy Gruzewski

Liam Rafferty

0422 211 021

0421 886 655

jeremy@astoncommercial.com.au

liam@astoncommercial.com.au

5 5

Location

Elsternwick Retail Strip

Glen Hun Elsternwic

This corner property is superbly located just 10km’s south-east of Melbourne’s CBD. The suburb is an extremely well-regarded family neighbourhood which is conveniently located close by to a number of leading private schools, the iconic Caulfield Racecourse and the popular shopping mecca Chadstone Shopping Centre.

The property is also a short distance from the Elsternwick retail strip, home to a number of national tenants, trendy cafes, bars and supermarkets.

Chadstone Shopping Centre Koornang Road, Carnegie Glen Huntly Road, Elsternwick Hawthorn Road, Caulfield

Monash University Glen Eira College Caulfield South Primary School Caulfield Grammar Wesley College

Glenhuntly Railway Station Tram (Route 67) Bus (623, 624)

Caulfield Racecourse Booran Reserve Princes Park Rippon Lea Estate Caulfield Park

6

STR A R LAU

EET

Caulfield Grammar

Rippon Lea Estate

Melbourne CBD

ntly Road, ck

R KAMB

1a 1036

GL

EN

HU

NT

OAD OOK R

LY

RO

AD

7

LAURA STREET

1,328 SQM

39.62 metres*

Property Particulars

33.52 metres*

G L E N H U N T LY R O A D

The property is contained within the following certificates of title:

8

Volume: 05079 Folio: 764

Volume: 04669 Folio: 787

Lot 2 on Plan of Subdivision 008021

Lot 1 on Plan of Subdivision 008021

ZONING Under the Glen Eira City Council Planning Scheme the site is zoned General Residential – Schedule 2 (GRZ2).

LAND DIMENSIONS & AREA Glen Huntly Road Frontage: 33.52 m* Laura Street Frontage: 39.62 m* Eastern Boundary: 39.62 m* Southern Boundary: 33.52 m*

TOTAL LAND AREA 1,328 sqm*

9

Project development overview Places 128 Places

Permit Approved Planning Permit – GE/PP-29318/2016 March 2017

Building Area Ground Floor: 644 sqm* First Floor: 255 sqm* Total Area: 899 sqm*

Commenced Works Works commenced in early 2019 with the demolition of the two original houses.

This was followed by the digging of the basement car park and associated foundation works.

Available Documents Documents that are available upon request, include, but are not limited to:

10

•

Council Issued Planning Permit

•

Stamped Drawings

•

Geotechnical Report

•

Land Survey

•

Original Building Contract

•

Arborist Report

•

Demolition Permits

•

Traffic Management Plans

11

Strength of the Child Care Sector This sector has been heavily funded by both sides of government, offering significant rebates to end users with the aim of seeing an increase in dual working parent families. The Childcare Subsidy system will see up to 90.4% of fees being subsidised.

THE FEDERAL GOVERNMENT IS PROJECTED TO INCREASE SPENDING

12

2018/2019

2020

$8 BILLION

$10 BILLION

“At present (2019) there are an estimated 1.5 million children under 5 in Australia demanding over 400,000 places per day.�

13

Sales of recently completed centres

Address

14

Sale Price

Rent

Number of Places

Sale Date

188 Tucker Road, $11,718,818 Bentleigh

$637,837 pa

144

September 2018

97 Tope Street, South Melbourne

$10,250,000

$434,000 pa

120

March 2019

14-16 Simla Street, Mitcham

$7,100,000

$541,170 pa

138

August 2019

1028 Wellington Road, Rowville

$6,900,000

$402,318 pa

124

August 2019

40 Highlander Drive, Craigieburn

$6,100,000

$398,895 pa

142

March 2019

Other development options Whilst the site has been permitted for a Child Care Centre, there is substantial potential for various forms of other projects (STPA) including:

MEDICAL Subject to planning approval (STPA) the site could work well for a specialised medical centre.

The dual frontage would provide flexibility for appropriate street access, underground parking for patients and medical professionals and has specialist hospitals in close proximity.

RESIDENTIAL APARTMENTS With the existing zoning allowing for a multi-level residential development, there could be substantial construction savings by leveraging the existing basement. These works were completed for 28 car spaces which would certainly more than cater for any residential development on a block of its size.

RESIDENTIAL HOME An extremely unique ability for an astute builder to design a luxury residential home that would benefit from the underground basement parking. The target market for this may be someone with an extensive car collection, man cave or oversized wine cellar.

15

15

C A U LF I E LD RACECOURSE

G LE N E C O LLE G

16

MONASH UNIVERSITY

EIRA GE

1a 1036

17 17

18

Method of Sale

TERMS OF SALE

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

CONTRACT OF SALE & VENDORS STATEMENT

Available upon request

INSPECTIONS

METHOD OF SALE

Strictly by appointment with the exclusive selling agents

For Sale via an Expressions of Interest campaign closing Thursday 31st October 2019 at 2pm

Talk to Us

Jeremy Gruzewski

Liam Rafferty

0422 211 021

0421 886 655

jeremy@astoncommercial.com.au

liam@astoncommercial.com.au

*Approx

1919

DISCLAIMER This document has been prepared by Wellara Holdings Pty Limited (Wellara) for advertising and general information only. It has been prepared for the sole purpose of assisting recipients (Bidders) to evaluate the opportunity to participate in the sale of the property and to prepare an expression of interest. The document is provided upon the express understanding that it be used for only that purpose.

The document does not constitute all or any part of an offer or Contract of Sale or a representation, recommendation or inducement by the Vendor or Wellara and is intended as a guide only. The document and any other written or verbal information given in respect of the property are provided on the following conditions: The property is to be sold on an “as is/where is� basis; The information does not purport to contain all of the details which a Bidder would require to make a decision to purchase all or part of the property; The Vendor has not in any way audited the information contained in the document and much of that information is based on information provided to the Vendor by third parties. Accordingly, no assurance, representation, warranty or guarantee (expressed or implied) is given by the Vendor or Wellara that the information is complete, accurate or balanced, or has or will be audited or independently verified, or that reasonable care has been or will be taken in compiling, preparing and furnishing the information; Bidders accept the information on the condition that they will rely on their own commercial judgement and expertise and will make their own enquiries and obtain their own independent advice in order to verify the accuracy, reliability, currency and completeness of the information; The information should not be relied upon in any way by Bidders, or their related entities, officers, employees, agents, shareholders and associates; Any forecast, projection or other forward-looking statement contained in the document is for illustrative purposes only and involves significant elements of subjective judgement and assumptions as to future events which may or may not be correct or may or may not eventuate. Such forecasts, projections and statements involve a number of risks and uncertainties; and The Vendor and Wellara do not assume any obligation to provide additional or updated information.

Except as may be expressly provided in any agreement in writing between the Vendor or Wellara and a Bidder, the Bidders acknowledge and agree that to the maximum extent permitted by law, the Vendor and Wellara disclaim all liability for any loss or damages (whether or not foreseeable) suffered by any person acting or relying on any part of the document or the accuracy, completeness, currency or reliability of it, whether or not the loss or damage arises in connection with any negligence, default or lack of care on the part of the Vendor or Wellara, any misrepresentation or any other cause by reason or in connection with the provision of the document, or by the purported reliance thereon by the Bidders.

A Bidder acknowledges that the Vendor has the right at any time and without notice to enter into or conclude negotiations with any other party or to not proceed with any proposal. The Vendor reserves the right to depart from or modify any procedures or timing set out in the document. Neither the Vendor nor Wellara are liable to reimburse or compensate any party or any of their representatives for any costs or expenses incurred by any party or its representatives in conducting their review and evaluation of this investment opportunity, submitting an expression of interest or otherwise in conjunction with the document.