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55-57 Railway Parade North, Glen Waverley

A golden retail corner surrounded by major council car park and opposite Glen Waverley Train Station
  • Income:
    $253,538.00 + GST
  • Highly exposed ‘triple fronted’ retail corner in the heart of Glen Waverley’s Activity Centre, supported by in excess of 2,300 car parks to accommodate the huge influx of pedestrians who migrate to this 24-hour retail and lifestyle precinct
  • Less than 100m* from both The Glen Shopping Centre (undergoing a $500m redevelopment) and the Glen Waverley Train Station, which provides direct access to the CBD and Melbourne’s most affluent suburbs
  • Fully leased to longstanding national tenant IMB Bank (48 stores, 190,000 members*), providing a net annual income of $253,538* + GST + Outgoings (after land tax) with fixed 5% annual rental increases
  • Fronting a side & rear laneway which are set for an overhaul, with the ‘Galleria’ development to the rear (15 levels) incorporating 9 retail shops onto this walkway, linking pedestrians from Railway Parade North through to The Glen Shopping Centre
  • And all of this is not just for the investor! Favourable clauses within the existing lease allow for the development of commercial, retail, hotel, residential or mixed use (STCA)

FOR SALE VIA PUBLIC ON-SITE AUCTION THURSDAY 12TH DECEMBER AT 2.30PM

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