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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:
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