Emmetts is pleased to present to market 64 Puckle Street, Moonee Ponds for sale by Public On-Site Auction on 13th August at 3:00pm (AEST).
PUCKLE STREET – INVEST WITH CONFIDENCE
+ Leased to Australian Red Cross, an internationally recognised and trusted institution.
+ Red Cross have been in continuous occupation at 64 Puckle Street for over 20 years.
+ Lease providing a strong rental covenant with annual rental increases of 3%.
+ Freehold land of 181 sqm* with rear access via Puckle Lane.
+ Building area of 130 sq m*.
+ The charitable nature of the current tenant may enable a successful application for Land Tax Exemption.
+ Located in 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 1,800* 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.
64 Puckle Street is for sale by Public On-Site Auction on 13th August at 3:00 pm (AEST).
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