An outstanding single level retail building fronting to Clayton Road in the south eastern suburb of Clayton is to be offered for sale by public auction by Sutherland Farrelly in conjunction with Lambie Real Estate on Friday July 21 2006 at 12:00 pm on site.
Comprising a building area of approximately 90 sqm, the property is ideally situated in a tightly held retail shopping strip located approximately 20 kilometres south east of the Melbourne Central Business District.
Surrounding business’s include McDonalds, the Commonwealth Bank of Australia, Priceline and Tattersals. The Clayton Railway Station and the Princess Highway (Dandenong Rd) are located within close proximity providing excellent accessibility to the property.
Zoned ‘Business 1’ under the provisions of the Monash Planning Scheme, the property enjoys the benefit of a new 3 x 4 year lease which commenced last year. The rental will be $23,436 per annum as of 1 July 2006 and is adjusted annually in accordance with annual CPI increases.
Selling agent Paul Farrelly, of Sutherland Farrelly, said the Clayton Road shopping strip is very popular with local residents and is highly regarded by investors, we are anticipating strong interest.
Farrelly added that the nature of the tenancy, namely Money 3 and the future development potential of the building provides the vital ingredients of a worthy portfolio addition.
The property is expected to fetch in excess of $400,000 at auction.
By Nelson Yap
