Retail
For Sale
INCOME + POSITION + POTENTIAL = GOLDEN PLAZA
17-19 Balmoral Avenue, Springvale VIC 3171
We are pleased to offer a landmark value-add building in the tightly held and highly sought Springvale activity precinct, The Golden Plaza. Currently a bustling shopping centre with significant income, the property which is currently underutilised has significant value-add potential through refurbishment, rental reversion or large-scale mixed-use development (STCA).
This is an outstanding and rare opportunity to add value or develop an already super-prime and iconic freehold building.
Key investment highlights are as follows:
• Freestanding two level building of 1,865.8m²* including 14 ground floor retail shops leased to a quality mix of tenants along with a;
• First-floor restaurant and car parking for 47 cars*
• Outstanding planning permit for a high-density mixed-use development consisting of 11,128m² of NSA over 10 levels.
• Currently 95%* leased with demolition/re-development clauses allowing any incoming purchaser short-term access.
• Strategic 2,968m²* land holding with substantial corner frontage of 110m* to Balmoral Avenue and St John’s Avenue
• Fully leased estimate income of $621,745* with major scope to improve through extension or refurbishment from current average
• Building rents of $398/m².
• All of this within a 7 day a week, day and night trading activity precinct that is heavily driven by tourism together with an affluent surrounding population
• Commercial 1 zoned land ensures endless long-term development opportunities (STCA)
We strongly recommends this opportunity for your serious consideration.
Jeremy Gruzewski
Director and Head of Agency
Director and Head of Agency
03 8532 2222 0422 211 021 jeremy@astoncommercial.com.auFred Nucara
Director and Officer in Effective Control
Director and Officer in Effective Control
03 8532 2222 0418 567 560 fred@astoncommercial.com.au17-19 Balmoral Avenue, Springvale VIC 3171