INCOME + POSITION + POTENTIAL = GOLDEN PLAZA
17-19 Balmoral Avenue, Springvale VIC
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 110m* frontage 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.