Buy 1 Or Buy Both! 2 Impressive Investments With New Long Leases

Fitzroys is delighted to present 1489 & 1491 Malvern Road, Glen Iris for sale.

Key attributes include:

•  2 prominent side by side freeholds offered for sale individually or together
•  Brand new leases in place to quality, established tenants
•  Potential to secure a total combined Commercial 1 zoned landholding of 452sqm* with 71m* corner frontage and future development upside (stca)
•  Nestled within one of Australia’s most affluent municipalities (Stonnington), Glen Iris is immediately surrounded by the prestigious suburbs of Toorak, Malvern and Armadale, further enhancing the property’s appeal and strong underlying land value
•  Excellent village location, surrounded by highly regarded local and national retailers and eateries
•  Walking distance to Tooronga Station and Gardiner Station, with tram services at doorstep
•  Just 7kms* from Melbourne’s CBD with convenient access to major arterials M1 / City Link, via Tooronga Road entrance.

1489 MALVERN ROAD:
•  Brand new 5 + 4 + 4 year lease to established multi-store tenant trading as “Tribe Home”
•  Returning $102,907 pa with fixed annual rental increases
•  Immaculate, fully renovated two storey building of 260sqm* incorporating gallery/showroom, office and parking
•  Rare internal lift allowing flexibility for a multitude of future alternative uses (stca)
•  Land area of 228sqm* with rear access

1491 MALVERN ROAD:
•  Brand new 6 + 6 year lease to highly successful, long established café tenant trading as “Mr Foxx”
•  Returning $104,200 pa with fixed annual rental increases
•  Well presented two storey building of 220sqm* encompassing expansive internal dining areas and courtyard on ground floor plus function room on first floor
•  Huge corner frontage of over 59 metres* to Malvern Road and Creswick Street
•  Land area of 224sqm* with rear access

These strategically located properties will benefit from the recent influx of nearby residential developments, with more planned for the area which will further underpin the viability and growth in values of properties within Malvern Road’s commercial precinct.

For further information on 1489 & 1491 Malvern Road, Glen Iris or to arrange an inspection, please contact Fitzroys selling agents Chris Kombi, Lewis Waddell or Ben Liu.

*approx.