AFFORDABLE PUCKLE STREET FREEHOLD

133 PUCKLE STREET, MOONEE PONDS

LOW RENTAL RATE WITH GROWTH POTENTIAL

133 PUCKLE STREET, MOONEE PONDS

SET TO BENEFIT FROM SURROUNDING DEVELOPMENT

133 PUCKLE STREET, MOONEE PONDS

EXECUTORS AUCTION – RELIABLE RETAIL FREEHOLD INVESTMENT WITH GROWTH POTENTIAL

Emmetts and City Link Real Estate are delighted to present 133 Puckle Street, Moonee Ponds for sale by Public Auction on Thursday 27th July at 2:30pm on site.

A prime retail freehold, well positioned in one of Melbourne’s strongest and most consistent retail strips, the property offers investors the following features:

+ Prime Puckle Street location, approximately 60 metres from Moonee Ponds Station

+ Puckle Street is one of Melbourne’s strongest and most consistently performing retail strips, benefitting from its position within Melbourne’s established inner north-west, attracting shoppers from surrounding suburbs with limited nearby competing retail strips with comparable gravity.

+ The strip is anchored by Woolworths, Coles, Kmart and Aldi and is enhanced by its abundance of at-grade convenient shopper car parking in addition to ease of transport via Moonee Ponds Station and nearby tram routes.

+ The strip is also popular with national discretionary retailers due its strong population catchment and lack of nearby competing retail locations.

+ 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.

+ Key growth statistics forecast within the MPAC Plan (2021) including a forecast 224% growth in population, 96% growth in employment, a 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 population and employment is expected to continue to add significantly to local retail expenditure, providing potential for strong retail rental growth along Puckle Street.

+ 133 Puckle Street provide investors with a prime freehold comprised of 137 sq m of land.

+ Single level retail premises of 105 sq m with rear access via laneway.

+ Leased to AJ Barbers on a new 5+5 year lease from February 2023, at a commencing rent of $45,000 pa plus GST & outgoings.

+ Lease provides for fixed annual increase of 4% pa with a market review at the commencement of the further term.

+ The rent reflects a low rate of $428 per sq m providing potential for sustainable rental growth over the medium term.

+ Affordable retail freehold opportunity in a Tier 1 Melbourne retail strip.

 

133 Puckle Street is for sale by Public Auction on Thursday 27th July at 2:30pm.

 

For further information or to arrange an inspection, please contact the exclusive selling agents.

Call Us

Charles Emmett
+61 402 358 069
Enquire With Agent
Xander Yeo
+61 487 656 141
Enquire With Agent

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