These two (2) outstanding land parcels are being offered for sale separately, or together for your consideration by Hewett Commercial. Expressions of interest are sought for either or both of these properties.
Positioned on Mitchell Street near Ballarat Road, these opportunities are surrounded by growing residential areas, excellent street parking and boast highly convenient rear access.
Both land holdings combined offer almost 11 metres frontage and are zoned Commercial 1 with a total land area of approximately 268 sqm. The two (2) land titles include a mixture of commercial & residential premises allowing future owners to diversify within the asset, redesign the floorplan, or redevelop the site to increase the return of the investment.
The existing bakery cafe encompasses the entirety of 126 Mitchell Street (the eastern parcel) being around 130 sqm, as well as the front retail component of 126a Mitchell Street of approximately 36 sqm. The property is being sold with the benefit of two (2) existing income streams from the two (2) residential tenancies at 126a Mitchell Street.
126a Mitchell Street features include:
+ 2x One (1) bedroom residential units (currently tenanted)
+ 2x Large private north facing outdoor courtyard / balcony
+ 2x Spacious bathroom and laundry facilities
+ 2x Full sized kitchen and lounge / dining areas
+ Private decking overlooking busy Mitchell Street and Cambridge Reserve
+ Potential for separate 36sqm retail premises
126 Mitchell Street features include:
+ Existing bakery / cafe fitout
+ Building area approximately 130 sqm
+ Full commercial kitchen
+ Walk-in coolroom / drinks fridge
+ Additional coolroom and freezer
+ Rear roller door for convenient loading
+ Ideal for F&B owner-occupier or value-add investor
There is also future development potential (STCA) with the two (2) adjoining land holdings of approximately 134 sqm each. To be sold separately or together, inspections are by appointment only please. All figures approximated and interested buyers are requested to confirm all details on the final sale documentation prior to proceeding.
Located in marvellous Maidstone, these properties are located around 8 km north-west of the CBD. The area is predominately residential and has significant commercial active create a large amount of employment for the region. The suburb has a median unit price of $612,000, similar to the Metro Melbourne comparison in the REIV's current quarter. Maidstone also boasts a median price of $902,500, almost 12% higher than the Metro Melbourne comparison for 3-bedroom houses in the REIV's current quarter.
Surrounding this location
+ Medway Gold Club
+ Starbucks
+ 7 Eleven
+ North Maidstone Kindergarten
+ Elite Hands Barber
+ Viet Street Eats
+ Jack B Nibble Cafe
+ The Naughty Greek Restaurant
+ Western Health Footscray Hospital
+ Western Private Hospital
+ Highpoint and Central West Shopping Centres
Buying these two commercial properties allows the flexibility for owner occupiers, value-add investors, or developers to expand the floor area (STCA). Alternatively, reconfigure the spacious ground floor and expand on the existing hospitality location.
Please call Andrew exclusively for more information or inspection times.
