Burgess Rawson is pleased to offer to market the Bunnings at 179-201 Victoria Parade & 8 Cromwell Street, Collingwood VIC for sale via Expressions of Interest.
The property has the following investment highlights:
+ Standalone Bunnings on set-and-forget net lease to 2027 plus 4 x 5 year options.
+ Bunnings is wholly owned by Wesfarmers Ltd and one of the most sought after tenants in Asia-Pacific, recently announced a 6.3% increase in HY sales to $9.8 billion.
+ Significant 5,375 sqm* site, just 1.45 km from Melbourne’s city grid.
+ Freehold titles with three street frontages, including 77 meters to one of Melbourne’s original promenades, Victoria Parade.
+ Strategic, high-profile location, adjacent to one of Melbourne’s most important intersections – Hoddle Street and Victoria Parade – with over 100,000 vehicles passing daily (1).
+ Collingwood is home to one of Melbourne’s most active high-rise development precincts, with population forecast to increase by 72.4% by 2041 (2).
+ Once in a lifetime landbank opportunity for a future legacy development.
+ Commercial 1 site with development precedents up to 14 levels (3) and nearby developers challenging height limits (up to 23 levels).
+ Future high-rise development alternatives enhanced by position on the north side of Victoria Parade, minimising overshadowing hurdles.
+ Potential future mixed use development concept prepared by Buchan Group based on planning advice from Urbis, STCA.
+ Income: $3,115,280 pa* with annual, compounding 3% increases.
For Sale by Expressions of Interest
Closing 1:00pm AEST Tuesday 27 June
* Approx
1. GapMaps
2. .id
3. Urbis
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