Central Ringwood Investment / Future Development Opportunity!

Sale Details

Sold on 02 Sep 2019 for $2,500,000

Description

Commanding three level commercial building, 227 Maroondah Highway, Ringwood is now available for sale for the first time in 30 years, offered by way of Expressions of Interest (EOI) closing Thursday 22nd August 2019 at 3pm.

This outstanding property is adjacent to Eastland Shopping Centre within the core Ringwood Activity Centre, opposite Ringwood Train Station, 500 metres* from Ringwood Bypass and 1.3km* from Eastlink.

Key criteria:
- Designated Eastern Precinct within the "Ringwood MAC Urban Design Guidelines" encouraging a future development feature form of 15 storeys (53 metres)*
- Land Area: 372m2* with 12.20 metres of Maroondah Highway frontage
- Rear access via Crescent Lane
- Favourable Commercial 1 Zone
- Building area: 719m2* (NLA) and 1,000m2* (GBA)
- Current lease 4+4 years commenced 11th August 2017
- Passing Rental $115,000 per annum
- Tenant HKL Group Holdings Pty Ltd which operate a timber flooring business
- Potential for multi-tenancies including two ground floor shops, first floor offices and lower floor storage car parking

*Approx
Pricing excludes GST.