Property Details :
CPG are pleased to present to market for sale this incredibly well presented and recently renovated freehold retail and commercial investment with both current, and future development upside.
Located on the busy Forest Road, the property boasts immense exposure for a large retail tenancy (currently Bendigo Bank), whilst also having rear street frontage and access via Albyn Street, providing entry to another 6 commercial tenancies and a 3 bedroom residence combining to generate a substantial multiple tenancy rental income.
416-418 Forest Road is 100m* from Albyn Street Council carpark and is in the middle of Bexley town centre, which has recently had a substantial council upgrade to visually improve the area. A large number of new developments in the area and multiple large scale DA approvals for mixed use developments, highlighting the growth location that Bexley is becoming.
– 429m²* total land area (double block)
– 513m²* building area
– Multi tenant rental income fully leased returning $138,716 pa. + GST
– Anchor tenant Bendigo Bank have recently exercised 3 year option commencing July 2022
– High exposure and dual street access/frontage
– B4: Mixed Use zoning
– 16m building height limit with 2:1 FSR
– Potential to develop additional 4 levels (STCA)
– Recent $200,000 renovation including modernised commercial suites and upgraded common kitchen facilities, amenities and façade
– Solar panels on roof
For further information on this opportunity please contact agents Ryan McMahon on 0429 228 460 or Damen Astey on 0431 817 616.
Open for inspection by private appointment