Gorman Commercial is pleased to present 256 Whitehorse Road, Balwyn to the market. The property is offered for sale by public auction on Thursday 18th October at 12 noon on-site.
This is an outstanding opportunity to secure a prime retail freehold investment with significant value-add potential located in the heart of one of Melbourne's most tightly held and highly regarded retail strips.
Key attributes of the property include:
* Two-level freehold leased to longstanding national retailer, Blue Illusion, who have occupied the property for over 16 years
* Additional separate rear tenancy accessed via rear right-of-way and public car park
* Combined income of $77,512 per annum plus GST and outgoings underpinned by secure 5 year leases
* Outstanding 307 sqm (approx.) Commercial 1 site with 6.8 metre frontage to Whitehorse Road and rear access providing for significant future development potential
* Surrounded by an array of national retailers including Woolworths, ANZ, Westpac, NAB, Anytime Fitness and Chemist Warehouse
The property is located on the southern side of the thriving Whitehorse Road, Balwyn shopping strip within close proximity to Woolworths and adjoining Chemist Warehouse. The retail strip has long been regarded as one of Melbourne's strongest performing retail strips. Surrounding the property is an array of national retailers including ANZ, Westpac, NAB, Anytime Fitness and Flight Centre. Balwyn is a highly regarded inner eastern suburb located approximately 10km east of the Melbourne CBD with a median house price of $2,390,000.
For more details, please email agent