May 07, 2017

Bank On This

AUCTION
Friday 26th May at 1pm onsite

452 Hampton Street, Hampton

Two shops at 452A and 452B Hampton Street, Hampton are to be auctioned by commercial property specialists, Nichols Crowder on site on Friday, 26th of May at 1:00pm.  Diagonally opposite a busy Woolworths supermarket, and set amongst a tightly-held and popular shopping strip, this property provides flexibility and opportunity to owner occupiers, investors and developers alike.

The total building size is 180sqm, on land of 451sqm, with parking for 8 cars at the rear of the block.  Comprising two shops, 452A is currently tenanted, while 452B is vacant.  With a Commercial 1 zoning, there is also potential to build upwards to incorporate a residential or office component (STCA). 

At 90sqm, 452A is leased at $58,493 per annum to Bank of Melbourne on a five-year lease ending October 2021, with three additional 5-year options.  Rent increases 4% a year, and at market rates at option time.  Also measuring 90sqm, 452B is being offered with vacant possession, making it ideal for an owner occupier.  Alternatively, it could be leased out to a new tenant after purchase.

“This is an outstanding property in a premium location”, says Matt Nichols, Managing Director.  “Property values continue to rise across the suburb, with the median residential house price being over $1.9 million in March 2017.  This is more than double the median price five years ago, with annualised growth of 14.9%.  Also, average household incomes in Hampton are much higher than Melbourne average, highlighting the potential this property will provide the new owner.”

452A and 452B Hampton Street, Hampton are able to be inspected by appointment, or as advertised.

NB: All areas and measurements are approximate. All prices are plus GST, unless otherwise stated.

For further details contact:

Matt Nichols                                                                  James Glen
0418 186 488                                                                 0401 493 277 

mattn@nicholscrowder.com.au                                         jamesg@nicholscrowder.com.au