PRIME RETAIL FREEHOLD LEASED TO THE COMMONWEALTH BANK OF AUSTRALIA – SOLD

291 Chapel Street, Prahran

PRIME RETAIL FREEHOLD LEASED TO THE COMMONWEALTH BANK OF AUSTRALIA – SOLD

Emmetts is pleased to present for sale a super prime Central Melbourne retail freehold investment, leased to Australia’s largest bank. The property is strategically positioned amongst Australia’s most successful retailers in the absolute prime trading section of Melbourne’s leading inner city retail strip.

Investment considerations include:

+ Irreplaceable freehold land of 400 sq m*

+ Wide dual street frontages to both Chapel Street and Cato Street.

+ Leased to Commonwealth Bank of Australia with rare fixed rental increases through to 2028^

+ Modern banking premises with tenant fit out completed in 2015

+ Absolute prime trading position, immediately surrounded by Australia’s leading national retailers including Coles, Liquorland, Dan Murphy’s, Priceline, Rebel Sport, JB Hi Fi and Kathmandu.

+ Surrounded by 2,500 shopper car parks in addition to multiple forms of public transport (rail, tram and bus).

+ Medium density Central Melbourne location with enormous future growth potential.

+ Long term redevelopment and / or value-add potential.

The property is offered for sale by Expressions of Interest, alongside adjoining 299-301 Chapel Street, Prahran which is leased to Priceline Pharmacy, with expressions of interest closing 26th November at 3pm. Interested parties are invited to express interest in buying the properties separately or together.

* denotes approx.

^ denotes subject to exercise of option

For further information on this sale, contact the exclusive selling agents.

Call Us

Charles Emmett
+61 402 358 069
Andrew Milligan
+61 421 559 992
Geoff Emmett
+61 409 330 561

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