Price information
Aston are pleased to present 721 & 727-729 High Street, Armadale by Expressions of Interest closing Wednesday 28 October at 3pm - Offered individually or as a single holding.
The Opportunity:
721 & 727-729 High Street is a rare opportunity on one of Melbourne’s most tightly held retail strips, with short-term leases offering owner-occupiers a clear path to occupy, investors a blue-chip asset with strong rent reversion upside and developers the ability to bank that same short-term income while progressing plans for a landmark mixed-use redevelopment (STCA).
Features:
• Combined landholding of 730m²*
• Combined building area of 796m²*
• Total street frontage of 23m* across three (3) shopfronts
• Two (2) retail tenancies in place - Royal Doulton and Leski Auctions
• Short-term leases with total net income of $279,701 pa*
• Zoned Commercial 1 (C1Z)
• Rear access via Tinsley Lane
• Offered individually or as a single holding
• Mixed-use development potential (STCA)
Development Upside:
Indicative scheme prepared by Telha Clarke in consultation with Urbis, comprising two basement levels, ground-floor retail and six levels of residential apartments above (STCA). Available upon request.
Location:
High Street, Armadale is one of Melbourne’s premier retail and lifestyle destinations, home to leading brands including Zimmermann, Scanlan Theodore and MECCA, alongside acclaimed dining and hospitality. Surrounded by affluent residential neighbourhoods and a growing collection of premium apartment developments, the precinct continues to strengthen as a highly sought-after place to shop, dine, live and invest.
Contact the exclusive agents for a confidential discussion or to arrange a private inspection.
*approximate
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