Crabtrees Real Estate Executive Joseph Monea and Director Chris McKenzie have negotiated the sale of a prominent retail property on a freehold site of 222 sqm with potential upside in Murrumbeena for $1.2 Million.
80 Poath Road offers two level retail premises of 160 sqm, providing front and rear lane access and commercial 1 zoning, ideal for mixed use development (STCA).
“The ground floor retail space is leased on a monthly tenancy returning approximately $29,000 pa net comprising of commercial kitchen space and dining area. Plus, with the first-floor area also completely self-sufficient this provides the purchaser the flexibility to occupy or invest now and the potential to develop in the future.’ Commented Joe Monea.
“Murrumbeena is a hive of activity that has seen major change and development recently and being just moments from major arterials, Chadstone Shopping Centre and serviced by train and bus services is one of Melbourne’s up and coming suburbs, a potential development opportunity too good to surpass” added Director Chris McKenzie.
For further information please contact Joe Monea on 0448 486 665 or Chris McKenzie on 0418 321 065.