Pinnacle Development Opportunity with Income in Carlton's University Precinct

For Sale - 114 Berkeley Street, CARLTON, VIC 3053

Development/Land (Hotel/Leisure, Residential), Investment (Retail)

Overview

Property ID: 15100
Price: $10,000,000
Rent: $103,250
Building: 415m²
Land: 415m²
Zoning: Capital City Zone

Description

CVA Property Consultants are proud to offer 114 Berkeley Street, Carlton for private sale.

Boasting a frontage of 25 metres* to Berkeley Street, this prime Carlton freehold offers the potential to future develop to a height level of 40 metres*. Uses include student accommodation, hotel, commercial or residential development (STPA) under its sought after Capital City Zoning, in the heart of Melbourne's University precinct.

This stylishly refurbished single level brick building of 415m2* with rear ROW lane access is currently leased to Seven Seeds Coffee Roasters.

Investment Summary
Commencement:1st November 2018
Term:Five (5) years with no further options
Rental:$103,250.00 per annum net plus GST and outgoings
Reviews:4% annual reviews

Enjoying the convenience of this city fringe suburb, the property is situated within walking distance from a multitude of transport services including Elizabeth Street Trams, Flagstaff & Melbourne Central Train Stations and various bus links. Other benefits include the $250 million Queen Victoria Market upgrade and the $11 billion Metro Rail Project with the development of State Library Station and Parkville Station set to enhance access to Melbourne's education and health precinct.

For further information please contact CVA Property Consultants.

*approx

Plans & Documents

Additional Info

Features
Occupancy Tenanted: Seven Seeds
Suitable Development Residential, Hotel, Student Accomodtion
Permits Issued No
Availability Upon settlement
Lease Term 5 years - no further options
Rent Review 4% annually
Commenced 01/11/2018
Bonds / Guarantees N/A
Car Spaces No
Car Parking Fees N/A
Outgoings
Outgoings Payable By Lessee
Water Rates $1,232.81 p.a. plus Water Usage and GST (approx)
Owners Corp. / Insurance $3,142.69 p.a. plus GST (approx)
Other Charges ESM $160.00 p.a. plus GST (approx)
Council Rates $15,372.00 p.a. plus GST (approx)
Land Tax $43,425.00 p.a. plus GST (appro

Agent Details

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