108 – 126 Commercial Road & 37 Thomas Place, PRAHRAN
Gross Waddell are offering for sale 108-126 Commercial Road & 37 Thomas Place, Prahran via an Expressions of Interest closing on Thursday 15th October 2015 at 4pm.
Featuring a substantial 2,300 square metres of prime inner city land, the property represents a unique opportunity to acquire a significant Melbourne land holding with an underlying income stream and genuine scope for a high density development opportunity with three street frontages.
The property is located in arguably Melbourne’s most sought after retail and residential location. Any further development will enjoy uninterrupted panoramic views of the Melbourne CBD, Port Phillip Bay, Royal Botanic Gardens, Fawkner Park and Albert Park Lake.
The properties are approximately 400 metres from the corner of Chapel Street, 240 metres to Prahran Market and 450 metres to Prahran Train Station.
The properties’ improvements include 3 older style single level showrooms and warehouses which are leased to Eckersleys, National Tiles, Arteveneta and Abloc returning $457,558 approximately per annum.
Jonathon McCormack of Gross Waddell, commented, “108-126 Commercial Road & 37 Thomas Place provides a rare opportunity for owner occupiers, developers and investors to acquire a unique property in this ever developing precinct.”
Expected Price Range $16 million +