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Overview
THE NEXT GREAT COMMERCIAL. DOESN'T AIR ON TV. IT RISES HERE FROM THE GROUND UP.
Located in the heart of Essendon's boutique retail and fine dining precinct, this exceptional commercial property offers a rare opportunity with significant development potential. The site currently comprises two shopfronts and a rear factory, both leased under dual agreements, providing a steady rental income while plans for redevelopment are finalized.
The property is zoned Commercial 1, allowing for a variety of commercial uses and potential multi-level residential development, subject to council approval (STCA). The total land area is approximately 610 square meters, featuring uniform dimensions and a minimal gradient, which simplifies construction and design considerations.
Additional features include an east-west orientation that maximizes natural light and energy efficiency, and all essential services are readily available on site. The property benefits from four off-street parking spaces, enhancing accessibility for tenants and customers alike.
Currently, the combined rental return is approximately $66,000 plus GST per annum, making this an attractive investment for those seeking immediate income alongside long-term capital growth potential.
This property represents a unique chance to secure a prime commercial asset in a sought-after location with strong demand and excellent prospects for future development. Interested parties are encouraged to act promptly to avoid missing out on this outstanding opportunity.
While every effort is made to ensure the accuracy and completeness of the property information provided, no guarantee is given. Buyers should independently verify all details, inclusions, availability, pricing, and other relevant information directly with the listing agent before relying on this information.
Location
Essendon VIC 3040
Market Insights for Essendon VIC 3040
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