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Burgess Rawson is pleased to offer to the market 507 Chapel Street and 1B Davison Place, South Yarra VIC for sale via Expression Of Interest as part of Portfolio 162.
The property has the following investment highlights:
+ Brandy Melville est. 1970: Italian female fashion giant with 133 locations globally
+ Three (3) year lease to July 2025 plus option to 2028
+ Large 397 sqm* landholding across two titles with valuable Activity Centre 1 Zoning
+ Landlord preferred, net lease terms with tenant paying all usual outgoings
+ Fixed compounding 4% annual increases with market review at option
+ Combined total building area of 562 sqm* with prime exposure to Chapel Street
+ Dual access building with rear warehouse loading via Davison Place
+ Iconic position in the heart of South Yarra between Toorak Road and Malvern Road
+ Directly opposite the iconic Jam Factory which is approved for a $1.5 billion redevelopment which includes 18,500 sqm* retail space, 20,000 sqm* commercial office space, 400 luxury residences, 200 five-star hotel rooms and nearly 2,000 parking bays**
+ Exceptionally presented showroom with large, versatile spaces and generous natural light throughout
+ Surrounded by the biggest national and international names in retail
+ Net income: $241,402 pa* + GST (August 2023)
For Sale via Expression Of Interest
Closing 3pm 18 August 2023
*approx
*businessnewsaustralia.com
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