Cushman & Wakefield Melbco and Emmetts are privileged to offer 600 Chapel Street (Cnr Toorak Road), South Yarra for sale by International Expression of Interest.
The property is one of Australia's most prime retail corners, situated at the epicentre of Melbourne's most affluent and high-density mixed-use catchments.
THE OPPORTUNTIY:
+ One of Australia's most prime retail corner real estate holdings.
+ Future opportunity to owner-occupy, reposition, re-lease and value-add.
+ 38 metres* of premium frontage to Chapel Street and Toorak Road.
+ Character building with features attractive to future high-value retailers.
+ Existing lease to National Australia Bank Limited providing undoubted rental income with highly favourable CPI+1.5% annual rental increases.
+ Enormous future retail income reversion potential via asset-repositioning and re-leasing to single-tenant flagship occupier.
+ Plans for illuminated commercial signage (STCA) providing potential to significantly increase income (STCA).
THE LOCATION:
+ South Yarra is situated between Melbourne's most affluent suburbs and the CBD.
+ Accommodating a premium mixed-use medium to high density catchment comprised of residential, offices, hotels and retail.
+ Expected population growth of 28% to 2036, following 31% population growth last 5 years.
+ Local catchment providing a mix of office workers, residents and tourists, generally with high disposable incomes.
+ Both Chapel Street and Toorak Road are regarded as two of Melbourne's most prime retail streets.
+ Significant surrounding premium development pipeline facilitating strong population growth.
+ Local retail market at close to 100% occupancy with depth of unsatisfied retailer occupational requirements.
+ Limited new retail supply, with strong local population growth anticipated to drive enormous growth in retail rents.
Secure one of Australia's best retail corners with enormous future opportunity for significant income reversion or for owner-occupation.
For sale by International Expression of Interest closing Thursday 16th November at 3pm.
For further information, contact Emmetts and Cushman & Wakefield Melbco as the exclusive selling agents.
Cushman & Wakefield Melbco
Daniel Wolman | +61 412 957 839
Oliver Hay | +61 419 528 540
Leon Ma | +61 417 070 725
Emmetts
Charles Emmett | +61 402 358 069
Xander Yeo | +61 487 656 141
- Inner East Melbourne
