** UNDER ASSESSMENT **
This prime retail freehold occupies a bustling position in the heart of Frankston’s retail core and presents substantial value-add or development potential (STCA).
• Substantial landholding of 1,226m²* with flexible Commercial 1 zoning
• An island site with 5 retail tenancies with a total building area of 934m²*
• Enormous potential to refurbish the existing tenancies, reconfigure the existing layout and/or occupy the tenancies
• Ideal apartment/mixed use, hotel or commercial development (STCA)
• Offering holding income and a potential fully let (fully refurbished) income of $330,000* p.a.
• Located at the entrance to Bayside Centre with immediate access to the thriving food court and Myer store
• Prime position with Frankston’s newly refurbished train station, Station Street Mall, Chisholm Institute and Peninsula Aquatic Recreation Centre merely moments from the doorstep
• Total of 141 metres* frontage across the 4 street frontages:
- Ross Smith Avenue: 38m*
- R.O.W.: 35m*
- Eastern Boundary: 27m*
- Western Boundary: 41m*
The property is for sale via Expressions of Interest closing Wednesday the 31st of March at 3pm. For further information or to organise an inspection, please contact Gross Waddell ICR directly.