75 Park Road Middle Park - Information Memorandum v1.1

INFORMATION MEMORANDUM

1-14/75 PARK ROAD MIDDLE PARK VICTORIA AUSTRALIA 3206

EXPRESSIONS OF INTEREST - THURSDAY 17TH MARCH 4:00PM

JONATHON BIRD - LICENSED ESTATE AGENT 0419 536 905

GERALD BETTS - LICENSED ESTATE AGENT 0418 371 855

RT EDGAR (ALBERT PARK) PTY LTD - 133 VICTORIA AVENUE, ALBERT PARK, VICTORIA 03 9699 7222

Park Road

713sqm*

Fraser Street

2 Information Memorandum | 75 Park Road, Middle Park, 3206

Table of Contents

Introduction

5

Executive Summary

7

Location

11

Site plan

12

Property Details

14

Sales Details

17

Website Links

19

Disclaimer

21

Contact Details

22

*approx 3

4 Information Memorandum | 75 Park Road, Middle Park, 3206

Introduction

1-14/75 Park Road Middle Park 

Valuable 713sqm* of flexible Neighbourhood Residential Zoned land in one of Melbourne’s most exclusive suburbs.



14 Separately titled apartments (Strata) 

12 single bedroom apartments



2 two bedroom apartments



14 on site car spaces



3 absolute street frontages 

Park Road 20m*



Fraser Street 32.8m*



Neville Street 26.2m*



Adjoining Boundary line 36.1m*



4 storey building envelope



A rare opportunity to make your mark on a prime inner-city property, well suited to investors, future value-add buyers, developers (STCA)



Easy access to public transport including tram routes along Park Street (#12 Fitzroy St to Victoria Gardens) and Canterbury Road Light Rail (#96 East Brunswick to St Kilda Beach)



Located in the affluent suburb of Middle Park, just 3.5km* from CBD



Potential Rental Income (pre 2020 rental returns)





12 one bedroom @ $330/wk annual return $206,474



2 two bedroom @ $630/wk annual return $65,696

Current Tenancy 

See page 9

*approx 5

6 Information Memorandum | 75 Park Road, Middle Park, 3206

Executive Summary

Property Address

1-14/75 Park Road, Middle Park

Building Description

4 Storey Residential Apartment Block with 3 street frontages.

Land Area

713sqm*

Zoning

Neighbourhood Residential Zone

Location

Located 3.5km* South East of Melbourne’s CBD

Apartment Occupancy

03 - Owner occupied 11 - Leases in place

Method of Sale

Expression Of Interest Thursday 17th March 2022 at 4:00pm

Terms of Sale

10% deposit, balance thirty (30) days to one hundred and eighty (180) days

Selling Agents

Jonathon Bird 0419 536 905 jbird@rtedgar.com.au

RT Edgar (Albert Park) Pty Ltd 133 Victoria Avenue Albert Park VIC 3206 03 9699 7222

Gerald Betts 0418 371 855 gbetts@rtedgar.com.au

*approx 7

NOTE: 75 Park Road, Middle Park is being offered by way of expression of interest and is not a single “inline” offering.

As such the successful purchaser will be required to enter into agreements (with protections) with each owner.

To view the Section 32 Vendor Statement of each apartment via Dropbox link and formalise an expression of interest submission, please contact us.

Full contact details will be required prior to provision of the link to the documents

Jonathon Bird Licensed Estate Agent - Auctioneer

0419 536 905 jbird@rtedgar.com.au

Gerald Betts Director

0418 371 855 gbetts@rtedgar.com.au

8 Information Memorandum | 75 Park Road, Middle Park, 3206

Executive Summary continued

Apartment

Attributes

Lease Status

$ / wk

2022 Land Tax

Rates

11

1/1/1

21/01/2023

$275

$2,769.36

$1,117.65*

12

1/1/1

Periodical

$320

$678.46

$1,117.65*

13

1/1/1

19/11/2022

$260

$1,072.21

$1,117.65

14

1/1/1

Periodical

$340

$659,43

$1,117.65*

15

1/1/1

Periodical

$330

$2,034.73

$1,117.65

21

1/1/1

-

-

-

$1,117.65

22

1/1/1

15/10/2022

$295

$615.00

$1,117.65

23

1/1/1

01/12/2022

$230

$1,310.97

$1,117.65

24

1/1/1

15/11/2022

$275

$1,188.07

$1,117.65

25

1/1/1

31/03/2022

$290

$615.00

$1,117.65

31

1/1/1

-

-

-

$1,117.65

32

2/1/1

Periodical

$340

$1,300.78

$1,196.40

33

2/1/1

-

-

$675.00

$1,196.40

34

1/1/1

Periodical

$250

$771.10

$1,117.65

Land tax calculated on single ownership is approximate $615.00* @ $420,000

*Estimated 9

10 Information Memorandum | 75 Park Road, Middle Park, 3206

Location

Middle Park “Middle Park is host to some of the finest 1930s and 1940s architecture in Melbourne, with pretty attached and row housing lining its leafy streets and rose-adorned parks, much dating back to Victorian and Edwardian eras….”

75 Park Road sits on the boarder of Middle Park and St Kilda West.

With it’s idyllic neighbourhood and family-friendly vibe, and only 300 meters to the foreshore. 75 Park Road is the perfect inner city choice, and a short tram ride into the city.

In the summertime, the beaches are filled with locals enjoying all the amenities like the foreshore has to offer for sunbathing, walking or swimming, or the local village and it’s number of quaint shops and cafes.

During the rest of the year, world renowned attractions like the annual Formula One Australian Grand Prix which is held close by at Albert Park Lake's Melbourne Grand Prix Circuit or the Fina World Masters Swimming event at the nearby MSAC Sports and Aquatics Centre.

The suburb is one of the premier choices to live in for many of Melbourne’s wealthy and offers one of the highest per square meter values for real estate across all of Australia.

Overall, Middle Park offers a quiet beachside living experience with the option for a cosmopolitan lifestyle just a short journey away by one of the many trams close to your doorstep.

11

12 Information Memorandum | 75 Park Road, Middle Park, 3206

13

Property Details

Site Particulars Legal Descriptions

Refer Vendor Statements

Planning Zones

Neighbourhood Residential Zone (NRZ)

Overlays



Heritage Overlay (HO)



Heritage Overlay - schedule (HO444)

Local Government

City of Port Phillip

Parking Permit Status

“Eligible upon application – Area 23”

Land Area

713sqm*

Building Area

280sqm*

City of Port Phillip Services Page

14 Information Memorandum | 75 Park Road, Middle Park, 3206

*approx 15

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1-14/75 Park Road MIDDLE PARK

17

18 Information Memorandum | 75 Park Road, Middle Park, 3206

Web Portals

19

20 Information Memorandum | 75 Park Road, Middle Park, 3206

Notes

21

22 Information Memorandum | 75 Park Road, Middle Park, 3206

Disclaimer

Potential purchasers should take note that the material in this report has been provided to the Agent from outside sources and has not been independently verified by RT Edgar (Albert Park) Pty Ltd. Any projections contained in this report therefore represent best estimates only and may be based on assumptions which, while reasonable, may be incorrect.

Potential purchasers should not rely on any material contained in the property report as a statement or representation of fact or as to any future matter, but should satisfy themselves as to the correctness of the information by such independent investigation as they and their legal and financial advisors see fit.

Except for rights and remedies provided by statute which cannot be excluded, no liability (under statute, in contract or tort for negligence or otherwise) is assumed by the Agents, the vendors, or any of their respective offices, employees or agents for any materials contained in this report.

View this information memorandum online at www.issuu.com

23

1-14/75 PARK ROAD MIDDLE PARK VICTORIA AUSTRALIA 3206 EXPRESSIONS OF INTEREST - THURSDAY 17TH MARCH 4:00PM

Jonathon Bird Licensed Estate Agent - Auctioneer

0419 536 905 jbird@rtedgar.com.au

Gerald Betts Director

0418 371 855 gbetts@rtedgar.com.au

RT Edgar (Albert Park) Pty Ltd - 133 Victoria Avenue Albert Park Victoria - 03 9699 7222 – (ACN 139 035 288)

No warranty is offered in relation to any potential purpose or use, current or future. All measurements are a guide only.

Interested parties are advised to seek independent advice prior to making any decisions in relation to this property.