Colliers International in conjunction with Burgess Rawson are pleased to offer 602 Whitehorse Road, Mitcham for sale by Expressions of Interest closing Thursday 17th May at 4pm.
This immaculate and meticulously maintained two level retail/office building offers an outstanding investment with significant future redevelopment potential.
We believe the most outstanding aspects include:
• High exposure, high quality two level freehold retail/office building comprising an NLA of 4,272m2* with 71 secure basement carparks
• 13 individual titles to be sold in one line allowing future potential for an individual sell down
• Substantial 2,480m2 site offering significant exposure with 61.9 metre frontage to Whitehorse Rd – 39,000 vehicles passing daily.
• Quality mix of high profile national tenants including anchor tenant Fernwood 11 year lease to 2027 plus options, and quality service & hospitality providers including local MP
• Strong track rental history with several tenants in tenure for over 20 years
• Fixed 3-4% increases for 50% of tenants assuring rental growth
• Fully leased income of $917,395pa* approx.
• Commercial 1 zoning offering attractive redevelopment options (STCA)
• Close to all forms of amenities and public transport – Mitcham Railway Station 300 metres, Eastlink within close proximity, Mitcham: highly sought after eastern suburb with median house price of $1,041,000 and offering ideal access to both the city and in close proximity to the Major Activity Centres of Box Hill and Ringwood.
For further information on this outstanding opportunity please do not hesitate the selling agents from Colliers International.
19 Jun 2018
602 Whitehorse Road, MITCHAM VIC 3132, AUSTRALIA