South Yarra Prime retail freeholds – Sold

Emmetts completed the sale of a value-add retail freehold in Chapel Street South Yarra.

Property:

Situated within Melbourne’s premier inner city growth precinct offering a range of growth factors unlike anywhere else across Inner City Melbourne.

Investment Considerations:

+ Affordable / Entry level freehold opportunity.

+ Take advantage of South Yarra’s next generation growth trajectory.

+ Major mixed use development situated opposite the property that will improve the immediate location.

+ South Yarra is currently transforming into one of inner city Melbourne’s most densely populated suburbs. There is an unprecedented level of development currently underway that will add significantly to the population of residents, office workers and tourists, which will drive retail spending in the precinct:

+ Office Development:

627 Chapel Street adding 24,000 sq m* of A-Grade space, with potential to add 2,400* additional office workers per day. Construction commenced.

11-13 Wilson Street adding 6,295 sq m* of office space, potential to add 630 approx. additional office workers per day. Construction commenced.

Jam Factory potentially adding 50,000 sq m* of space, with potential to add 5,000* additional office workers per day. Planning approved, now pre-leasing.

+ Hotels:
402 Chapel Street – Major Hotel approved.
River Street – Hyatt Centric Announced
Claremont Street – Moxy Announced (180 rooms*)
230 Toorak Road – Mojo Hotel (186 rooms*)

+ Residential:
Capitol Grand – 396* brand new ultra luxury apartments.

+ This is in addition to existing office and hotel line up including The Como Centre (Channel 10 and Clemenger Group), The Olsen Hotel on Chapel Street and one of Australia’s most dense apartment precincts.

+ Multitude of transport options including major tram and bus routes.

+ Walking distance to South Yarra Station.

This affordable opportunity that will allow you to participate in this next phase growth trajectory comprises:

+ Freehold land area of 151 sq m*

+ Building area 196 sq m*

+ Affordable opportunity with genuine growth potential.

+ Invest, Occupy or Value-Add

+ Dual tenancy potential (STCA)

+ Highly lettable building with strong rental growth potential.

* denotes approx.

For further information on this sale, contact the agents.