Emmetts are delighted to exclusively present for sale by public on site auction, a prime retail freehold investment opportunity positioned centrally the within Moonee Ponds iconic Puckle Street.
INVEST WITH CONFIDENCE
+ Puckle Street is one of Melbourne’s strongest and most consistently performing retail strips. The strip benefits from its strategic position within Melbourne’s established inner north-west attracting shoppers from surrounding suburbs.
+ Puckle Street benefits from limited nearby competing retail strips providing defensive investment characteristics.
+ The strip is anchored by Woolworths, Coles, Kmart and Aldi and is enhanced by its abundance of at-grade convenient car parking in addition to ease of transport via Moonee Ponds Station and nearby bus / tram interchange.
+ The location has benefitted in recent years from the Moonee Ponds Activity Centre Plan (MPAC) which has encouraged medium and high density development activity immediately surrounding Puckle Street.
+ Over 2,200* new apartments have been developed with more than 440 apartments yet to come.
+ Key growth statistics within the MPAC Plan (2021) include a forecast 224% growth in population, forecast 96% growth in employment, an increase in demand for retail space of 34,841 sq m and an increase in demand for office space of 194,424 sq m.^
+ This growth in population and employment is expected to continue to add significantly to local retail expenditure, providing potential for strong retail rental growth along Puckle Street.
+ Freehold land of 177 sqm* with rear access via Puckle Lane.
+ Building size of 146 sq m* all ground floor space (note first floor inaccessible).
+ Recently renewed 5 year lease to ‘Makardi Salon’.
+ Lease provides for fixed annual rental increases of 3% pa with a market review at the commencement of the further term.
For further information, contact the team at Emmetts Real Estate.
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