Burgess Rawson is delighted to offer to the market this mixed use, fully leased investment at 473 High Street, Prahran VIC for sale via Investment Portfolio Auction 162
The Property has the following investment highlights:
+ Retail shop (110sqm*) with dual entry, secure parking and a custom tenant fit-out.
+ Modern and spacious two-bedroom residence on the first floor providing dual income streams.
+ Ascraft/Motivo: Wholesale textile importer and distributor with 25+ locations nationwide, est. 1975 and in occupation from this location since 2014.
+ Annual rent increases, ensuring future rental growth.
+ Premium Commerical 1 Zoning providing the opportunity for future development (STCA).
+ Premier location with frontage to High Street, one of Melbourne?s most iconic shopping precincts, servicing 15,100 vehicles on average daily.**
+ PetStock, E&S, Mt Erica Hotel & Alliance Pharmacy all within 150* metres.
+ Easily accessible via public transport including a tram stop (100 metres) and Hawksburn Station (1km*).
+ Prahran: Highly desirable and tightly held inner city suburb with a median house price of $1,700,000.
+ City of Stonnington: highly regarded municipality, with population forecast to surge 20.5% to 136,973 residents by 2036.***
+ Net Income: $94,305* pa + GST
To be sold by Investment Portfolio 162 Auction
10:30am AEST Wednesday 2nd August 2023
Crown Casino, Melbourne.
SHAUN VENABLES
0411 860 865
svenables@burgessrawson.com.au
JUSTIN KRAMERSH
0460 349 605
jkramersh@burgessrawson.com.au
DAVID NAPOLEONE
0417 308 067
dnapoleone@burgessrawson.com.au
ROMANOR FALCONER
0413 830 808
rfalconer@burgessrawson.com.au
*approx.
**GapMaps
***Forecast.id