INCOME + POSITION + POTENTIAL = GOLDEN PLAZA

17-19 Balmoral Avenue, Springvale, Victoria 3171

Retail For Sale

Expressions of Interest. EOI Date 21 Jun 2019
Land Area: 2,968.00 m2.    Floor Area: 1,865.80 m2.    

Car Spaces: 86   

Description

Colliers International and Beller Commercial are pleased to offer The Golden Plaza - a landmark investment and development opportunity situated in the tightly held and highly sought Springvale Activity Precinct.

The Golden Plaza is a bustling shopping centre which benefits from significant income. A multitude of value-add opportunities are possible including refurbishment to improve the underutilised building, rental reversion or large-scale mixed-use development (STCA).

This is an outstanding and rare proposition to add value or develop an already super-prime and iconic freehold building in one of Melbourne’s most active suburban markets.

Key investment highlights are as follows:

• Freestanding two level building of 1,865.8m²* including 14 ground floor retail shops leased to a quality mix of tenants along with a first-floor restaurant and car parking for some 86 cars*
• A rare and outstanding planning permit for a high-density mixed-use development consisting of 9,813m²* of NSA over 10 levels.
• Currently 95%* leased with demolition/re-development clauses allowing any incoming purchaser access in the short-term
• Strategic 2,968m²* land holding with substantial corner frontage 110m* frontage to Balmoral Avenue and St John’s Avenue
• Fully leased estimate income of $621,745* per annum with major scope to improve through extension or refurbishment from current average rents of $398/m². Rent growth potential.
• All of this within a 7 day a week, day and night trading activity precinct, that is heavily driven by tourism together with an affluent surrounding population
• Commercial 1 zoned land ensures endless long-term development opportunities (STCA)

Colliers International and Beller Commercial strongly recommends this opportunity for your serious consideration.

Colliers International
Ted Dwyer - 0411 312 165
David Sia 谢忠佑 - 0430 111 223
Joe Kairouz 0421 430 638

Beller Commercial
Jeremy Gruzewski - 0422 211 021
Fred Nucara - 0418 567 560

*approx

Features

  • Strong income with significant upside
  • Prime corner position on 2,968m²* land
  • Permit for 10 level with 9,813m²* NSA

Specifications

Zoning Commercial 1 PLUS Planning Permit for 10 levels

Map

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