POINT OF INTEREST
SUITES 101 & 301, 70-72 RIVER STREET, SOUTH YARRA.
Suite 101 - Whole of level 1 - 494 sqm*
BUILDING AREA
ZONING
TENANCY
Suite 301 - Whole of level 3 - 234 sqm*
Activity Centre Zone (ACZ1)
Suite 101 - 1010 Capital
Suite 301 - BWA Accountants
METHOD OF SALE
Private Sale
SALE TERMS
10% deposit, balance 60/90 days
01 101 & 301/70-72 RIVER STREET, SOUTH YARA INFORMATION MEMORANDUM WWW.CVA.MELBOURNE 01
South Yarra is known for its upscale and vibrant atmosphere, making it an attractive location for businesses. Being within walking distance to Chapel Street adds to the allure, as Chapel Street is renowned for its fashion boutiques, trendy cafes, and cultural attractions.
Suite 101 leased for $210,000 per annum excluding GST and outgoings.
Suite 301 leased for $97,850 per annum excluding GST and outgoings.
Mixed use building comprising 3 levels of office and 3 levels of high-end apartments.
Activity Centre Zoning.
Substantial depreciation benefits.
Car park opposite provides 600 car spaces. 150 m* to Chapel Street.
02 101 & 301/70-72 RIVER STREET, SOUTH YARA INFORMATION MEMORANDUM WWW.CVA.MELBOURNE 02
POINT OF VIEW
“A truly outstanding offering - filled with flair and functionality - within one of Melbourne’s top city fringe suburbs.”
DANIEL PHILIP DIRECTOR - SOUTH REGION
“Two offices, two floors, double the return. Seamlessly leased, these strategic investments promise not just spaces, but a prosperous future for savvy investors.”
IAN ANGELICO MANAGING DIRECTOR
IMPROVEMENTS
Comprising a lavish independent ground floor entrance of 103 sqm* with soaring 5 metre* high ceilings and high bay windows. This property is further complemented by a whole first floor office totaling 494 sqm*, and third floor office of 234 sqm*, accessible by elevator or an internal staircase from the ground floor.
Both floors feature boardrooms & offices, versatile openplan work areas, a comprehensive kitchen and breakout space. Several outdoor areas allowing for break out spaces and natural air flow.
03 101 & 301/70-72 RIVER STREET, SOUTH YARA INFORMATION MEMORANDUM WWW.CVA.MELBOURNE 03 PROPERTY
FEATURES
Both offices feature high bay windows and ceilings. The entire property is well serviced by natural light from 3 sides, and features operable windows that facilitate natural ventilation. A design-focused fitout is apparent throughout both floors.
04 101 & 301/70-72 RIVER STREET, SOUTH YARA INFORMATION MEMORANDUM WWW.CVA.MELBOURNE 03
PROPERTY FEATURES
Both packages have secure undercover car parking allocated for 5 vehicles, but across the road offers an additional 600 public car spaces accessed via Malcolm Street.
05 101 & 301/70-72 RIVER STREET, SOUTH YARA INFORMATION MEMORANDUM WWW.CVA.MELBOURNE 03
PROPERTY FEATURES
Suite 101 Reception
Suite 301 Reception
ALL SIGNS POINT TO: SOUTH YARRA.
Situated within one of Melbourne’s most desirable city fringe suburbs, South Yarra is home to world class retail and lifestyle facilities. The property is ideally located minutes away from both Toorak Road and Chapel Street, both desirable retail strips with diverse culture of restaurants, cafes, fashion and supermarkets.
It’s closely situated to the major arterial roads including Toorak Road, Alexandra Road and Citylink. Additionally, the address is well serviced by transport options including No. 51 tram on Malcolm Street and South Yarra Railway Station is located only 6 minutes from River Street.
Furthermore, the property is enhanced by its close proximity to Yarra river and walking tracks and it’s assortment of health and fitness options.
AND THE POINT?
South Yarra hasn’t stopped booming for a decade. And with a standard of office suites rivaling the premium location, there isn’t a more sound (or lucrative) ((or enviable)) move on the market.
06 101 & 301/70-72 RIVER STREET, SOUTH YARA INFORMATION MEMORANDUM WWW.CVA.MELBOURNE 04
LOCATION
South Yarra’s reputation as a desirable location may contribute to property value appreciation over time, which could lead to a profitable resale in the future.
07 101 & 301/70-72 RIVER STREET, SOUTH YARA INFORMATION MEMORANDUM WWW.CVA.MELBOURNE 04 LOCATION
Nearby parks include Rockley Gardens on Toorak Road, Como Park with views of the Yarra River, Fawkner Park, Royal Botanic Gardens or take a leisurely stroll along the Main Yarra Trail.
Only footsteps from 670 Chapel Shopping mall includes Big W, Woolworths, BWS, a beauty parlour and food court. Additional restaurants including Grill’d, Hunky Dory Fish & Chips, Alleyway Kitchen and more. Further retail options exist at Como Centre located on the corner of Toorak Road and Chapel Street.
Public transport options include trains from South Yarra station located only a 10 minute walk from the property, and trams and buses that run along Chapel Street and Toorak Road.
08 101 & 301/70-72 RIVER STREET, SOUTH YARA INFORMATION MEMORANDUM WWW.CVA.MELBOURNE 04
LOCATION
South Yarra is located 3 km south-east of the CBD, and south of theYarra River. It is a primarily residential and commercial suburb. The suburb’s commercial districts are based on Chapel Street and Toorak Road. South Yarra features Fawkner Park, Rockley Gardens and Hawksburn Railway Station and South Yarra Railway Station, a major railway junction for a number of railway lines across Metropolitan Melbourne.
Recent facts show that the median age for home occupiers is 32 years and the median household size is 1.9 bedrooms. 7.1% occupy a separate house in this suburb and 14.3% are semi-detached.
MEDIAN RESIDENTIAL PRICES
HOUSE UNIT
UNDER POPULATION $666,000
OVER $2,675,000
09 101 & 301/70-72 RIVER STREET, SOUTH YARA INFORMATION MEMORANDUM WWW.CVA.MELBOURNE 05 SUBURB PROFILE
SOURCES: PROPERTYDATA.COM.AU & AUSTRALIAN BUREAU OF STATISTICS, CENSUS 2016
THE
FAMILY HOUSEHOLD INDIVIDUAL WEEKLY INCOME $1,126 $1,813 $2,463 100% 25,147 RESIDENTS 11.1% 2,783 RESIDENTS 81.8% 20,583 RESIDENTS 7.1% 1,791 RESIDENTS
ON
MAP: SOUTH YARRA.
15
BETWEEN 15-65 65
Imaged Document Cover Sheet
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101 & 301/70-72 RIVER STREET, SOUTH YARRA WWW.CVA.MELBOURNE ZONING
37.08
31/07/2018
VC148
ACTIVITY CENTRE ZONE
Shown on the planning scheme map as ACZ with a number.
Purpose
To implement the Municipal Planning Strategy and the Planning Policy Framework.
To encourage a mixture of uses and the intensive development of the activity centre:
■
As a focus for business, shopping, working, housing, leisure, transport and community facilities.
■
To support sustainable urban outcomes that maximise the use of infrastructure and public transport.
To deliver a diversity of housing at higher densities to make optimum use of the facilities and services.
To create through good urban design an attractive, pleasant, walkable, safe and stimulating environment.
To facilitate use and development of land in accordance with the Development Framework for the activity centre.
37.08-1
17/09/2009
VC59
Operation
A schedule to this zone comprises the Development Framework for the activity centre. A schedule to this zone must contain:
37.08-2
17/09/2009
VC59
A framework plan for the activity centre.
■ A statement of the activity centre land use and development objectives to be achieved.
■ A schedule to this zone may contain:
■
■ Precinct provisions.
Centre-wide provisions.
Table of uses Use
Any use in Section 1 of the schedule to this zone
Must comply with any condition in Section 1 of the schedule to this zone.
Section 2 - Permit required
Section 1 - Permit not required Use Condition
Any use in Section 2 of the schedule to this zone
Section 3 - Prohibited
Must comply with any condition in Section 2 of the schedule to this zone.
Any use in Section 3 of the schedule to this zone
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Condition
Use
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37.08-3
17/09/2009
VC59
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31/07/2018
VC148
Use of land
Any requirement in the schedule to this zone must be met.
Subdivision
A permit is required to subdivide land.
Any requirement in the schedule to this zone must be met.
VicSmart applications
Subject to Clause 71.06, an application under this clause for a development specified in Column 1 is a class of VicSmart application and must be assessed against the provision specified in Column 2.
Class of application
Subdivide land to realign the common boundary between 2 lots where:
■
Information requirements and decision guidelines
Clause 59.01
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VC148
The area of either lot is reduced by less than 15 percent.
■ The general direction of the common boundary does not change.
Subdivide land into lots each containing an existing building or car parking space where:
■
Clause 59.02
■
The buildings or car parking spaces have been constructed in accordance with the provisions of this scheme or a permit issued under this scheme.
■ An occupancy permit or a certificate of final inspection has been issued under the Building Regulations in relation to the buildings within 5 years prior to the application for a permit for subdivision.
Subdivide land into 2 lots if:
Clause 59.02
■
The construction of a building or the construction or carrying out of works on the land:
■ Has started lawfully.
■ The subdivision does not create a vacant lot.
Has been approved under this scheme or by a permit issued under this scheme and the permit has not expired.
Buildings and works
A permit is required to construct a building or construct or carry out works unless the schedule to this zone specifies otherwise.
An apartment development must meet the requirements of Clause 58.
VicSmart applications
Subject to Clause 71.06, an application under this clause for a development specified in Column 1 is a class of VicSmart application and must be assessed against the provision specified in Column 2.
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Class of application
Construct a building or construct or carry out works with an estimated cost of up to $500,000 and the land is not:
■
■ Used for a purpose listed in the table to Clause 53.10.
Within 30 metres of land (not a road) which is in a residential zone.
Transitional provisions
Clause 58 does not apply to:
■
37.08-6
17/09/2009
VC59
Information requirements and decision guidelines
Clause 59.04
37.08-7
01/07/2021
VC203
An application for a planning permit lodged before the approval date of Amendment VC136.
■ An application for an amendment of a permit under section 72 of the Act, if the original permit application was lodged before the approval date of Amendment VC136.
Design and development
A schedule to this zone may include requirements relating to:
■ Building height.
Building setbacks.
■ Building materials.
■ Access.
■ Landscaping.
■ Public realm.
■ Any other requirements or guidelines relating to the design or built form of new development.
■ A permit may be granted to construct a building or construct or carry out works which is not in accordance with any design and development requirement in the schedule to this zone unless the schedule to this zone specifies otherwise.
Application requirements
Use
An application to use land must be accompanied by the following information, as appropriate:
■ Plans drawn to scale and dimensioned which show:
■
A description of the proposed use and the types of activities which will be carried out and any proposed staging of use and activities on the land.
■
■
The siting and use of buildings.
■ Areas not required for immediate use.
■ Adjacent buildings and uses.
The likely effects, if any, on adjoining land, including noise levels, traffic, the hours of delivery and despatch of goods and materials, hours of operation and light spill, solar access, glare, air-borne emissions and emissions to land and water.
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■
If an industry or warehouse:
■
■ Any other information specified in the schedule to this zone.
■ Whether a Development Licence, Operating Licence, Permit or Registration is required from the Environment Protection Authority.
The type and quantity of goods to be stored, processed or produced.
■ Whether a notification under the Occupational Health and Safety Regulations 2017 is required, a licence under the Dangerous Goods Act 1995 is required, or a fire protection quantity under the Dangerous Goods (Storage and Handling) Regulations 2012 is exceeded.
Subdivision
An application to subdivide land must be accompanied by the following information, as appropriate:
■
Plans drawn to scale and dimensioned which show: Site shape, size, dimensions and orientation.
■ The pattern of subdivision of the surrounding area.
■ Easements.
■ Location of drainage and other utilities.
■ Street frontage features such as poles, street trees and kerb crossovers.
■ Access points.
■
■ Any natural features.
■ Any other information specified in the schedule to this zone.
Buildings and works
An application to construct a building or construct or carry out works must be accompanied by the following information, as appropriate:
■
Plans drawn to scale and dimensioned which show: The boundaries and dimensions of the site.
■ Adjoining roads.
■ The location, height and use of buildings and works on adjoining land.
■ Levels of the site and the difference in levels between the site and surrounding properties to a defined point at the site boundaries or to Australian Height Datum (AHD).
■ Any contaminated soils and filled areas, where known.
■ The layout of existing and proposed buildings and works.
■ The internal layout and use of the proposed development.
■ All access and pedestrian areas.
■ All driveway, car parking and loading areas.
■ Existing vegetation and proposed landscape areas.
■ All external storage and waste treatment areas.
■ The location of easements and services.
■
■ Elevation plans drawn to scale and dimensioned which show: The building form and scale.
■
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■
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31/07/2018
VC148
■
37.08-9
20/12/2021
VC174
■ Finished floor levels and building heights to a defined point at the site boundaries or to Australian Height Datum (AHD).
Setbacks to property boundaries.
■ Shadow diagrams based on the equinox shown for existing conditions and the proposed development.
■ A schedule of finishes for the proposed development detailing materials and colours of external surfaces including walls, roofs and fences.
■ A written statement providing an assessment of the proposal against the relevant sections of the Planning Policy Framework, Activity Centre Zone and any relevant overlays.
■ An assessment of the characteristics of the area including:
■ Street design and landscape.
Any environmental features such as vegetation, topography and significant views.
■ The pattern of development.
■ Building form, scale and rhythm.
■ Architectural style, building details and materials.
■ Connection to the public realm.
■
■ Any significant noise, odour, fume and vibration sources to and/or from the development.
■ Construction details of all drainage works, driveways, vehicle parking and loading areas.
A landscape plan which includes the description of vegetation to be planted, the surfaces to be constructed, site works specification and method of preparing, draining, watering and maintaining the landscape area.
■ An urban context report and design response as required in Clause 58.01 for an application to construct or extend an apartment development, or to construct or extend a dwelling in or forming part of an apartment development.
■ Any other information specified in the schedule to this zone.
Exemption from notice and review
An application under Clauses 37.08-2, 37.08-4, 37.08-5 or 37.08-6 is exempt from the notice requirements of section 52(1)(a), (b) and (d), the decision requirements of section 64(1), (2) and (3) and the review rights of section 82(1) of the Act unless the schedule to this zone specifies otherwise.
A schedule to this zone may specify an application in respect of land in an Activity Centre Zone under any other specified provision of this scheme is exempt from the notice requirements of section 52(1)(a), (b) and (d), the decision requirements of section 64(1), (2) and (3) and the review rights of section 82(1) of the Act.
Decision guidelines
Before deciding on an application, in addition to the decision guidelines in Clause 65, the responsible authority must consider, as appropriate:
General
■ The development framework plan set out in the schedule to this zone.
The Municipal Planning Strategy and the Planning Policy Framework.
■ The land use and development objectives set out in the schedule to this zone.
■
■ The extent that the layout and design of the new use or development minimises the potential for off-site impacts, including from noise, fumes, odour or vibrations, ensuring that: existing uses are not compromised by a new development, or
■
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Page 5 of 7
■ Any requirements set out in the schedule to this zone.
a new development is designed to address amenity impacts from existing uses.
■ Any other decision guidelines specified in the schedule to this zone.
■ Access
■
■ The provision of car parking, loading of vehicles and access to parking spaces and loading bays.
Movements systems through and around the site including the movement of pedestrians and cyclists, and vehicles providing for supplies, waste removal, emergency services and public transport.
Use
■
■ Whether the use is compatible with adjoining and nearby land uses.
The interim use of those parts of the land not required for the proposed use.
Subdivision
■
The pattern of subdivision and its effect on the spacing of buildings.
■ For subdivision of land for residential development, the objectives and standards of Clause 56.
Design and built form
■ The provision for solar access to the building and on the public realm.
The design, scale, height, setback, appearance and material of the proposed buildings and works.
■ The design of the public realm.
■ The relationship between the proposed building and the public realm.
■ The streetscape, including the conservation of buildings, the design of verandas, access from the street front, provision of active frontages to pedestrian areas, the treatment of the fronts and backs of buildings and their appurtenances, illumination of buildings or their immediate spaces and the landscaping of land adjoining a road.
■ The interface with adjoining zones, especially the relationship with residential zones.
■ The objectives, standards and decision guidelines of Clause 54 and Clause 55. This does not apply to an apartment development.
■ For an apartment development, the objectives, standards and decision guidelines of Clause 58.
■
■ The storage of rubbish and materials for recycling.
Transitional provisions
The objectives, standards and decision guidelines of Clause 55 of this scheme, as in force immediately before the approval date of Amendment VC136, continues to apply to:
■ An application for an amendment of a permit under section 72 of the Act, if the original permit application was lodged before that date.
An application for a planning permit lodged before that date.
■ Clauses 55 and 58 of this scheme, as in force immediately before the approval date of Amendment VC174, continue to apply to:
■
■ An application for an amendment of a permit under section 72 of the Act, if the original permit application was lodged before that date.
An application for a planning permit lodged before that date.
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37.08-10
31/07/2018
VC148
37.08-11
17/09/2009
VC59
Signs
Sign requirements are at Clause 52.05. This zone is in Category 1 unless a schedule to this zone specifies a different category.
Other provisions of the scheme
The schedule to this zone may specify that other provisions of the scheme do not apply.
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