423-427 Bay Street, Brighton, VIC 3186

For Sale

Private Sale by Close Date on the 16th May 2024 at 12pm, unless sold prior.

POINT OF INTEREST:

A significant piece of Brighton’s commercial history is now on the market, with four separate Titles selling as one brilliant asset. On top of 706 sqm* of land, invest in iconic Victorian terraces built between 1896 and 1898 — with a total building area of 575 sqm*. There are five leases currently running: three retail, one residential, and a rear studio, all amounting to five completely diverse streams of income. Lease lengths vary up to 2026, providing a clever opportunity for the astute investor to hold and extend the current agreements with the ability to increase the rent. Or pocket the income over the next two years and develop the site into a multi-level project to cater for the affluent Middle Brighton demographic — a fitting neighbourhood addition with the new premier mixed-use developments adjacent to this site. With 20.7 m* of frontage to Bay Street, on site car parking, multiple income streams — your portfolio will never see another asset with these inclusions situated within such a coveted location. Bay Street is one of Melbourne's most revered high streets, with the Coles across the road and the bus stop on your doorstep. Taking Nepean Highway into the CBD will get you there in under half an hour, while North Brighton railway station is 400 m* away and makes the same journey in only 35 minutes.

- Returning $203,657 per annum of passing rent with significant rental uplift potential.
- Four Titles selling as one asset.
- Five leases comprising three retail, one residential, and a rear studio.
- 575 sqm* building area.
- 706 sqm* land area.
- Commercial 1 zoning.
- On site car parking.
- 400 m* from North Brighton railway station.
- 10.8 km* from Melbourne CBD.

POINT OF VIEW:

Some invest in property to see the worth slowly increase alongside the suburb. Here, Brighton’s reputable affluence means you can have your cake and eat it too. Reap the investment rewards now and benefit from the development upside later.

*Approx.
Pricing excludes GST.

• Availability: Subject to a leases.
• Lease Term: Up to December 2026.
• Rent Review: As per individual leases.
• Car Spaces: On site car parking.
• Condition: Refurbished.
• Air Conditioning: Yes.
• Age: Circa 1898.
• Car Parking Fees: Nil.

• Water Rates: $2,259.52 p.a.*
• Land Tax: $21,510 p.a.*
• Council Rates: $9,825.51 p.a.*