EXPRESSION OF INTEREST
Deadline Private Sale closing Thursday 17th August at 3pm
152-158 Weatherall Road, Cheltenham
Nichols Crowder is proud to offer 152-158 Weatherall Road, Cheltenham to the market via an Expression of Interest campaign with a Deadline Private Sale closing Thursday 17th August at 3pm. This prime site of 850sqm on the corner of Parkside Street contains a workshop of 143sqm and is currently leased at $37,500 per annum net until March 2018, plus options.
The property’s prominent Bayside location and close proximity to shops, schools and public transport, makes it ideal for investors, developers and owner occupiers alike. It is currently zoned Flexible Mixed Use, with a proposed amendment at council for rezoning to Commercial 1.
“Being on a corner and with rear laneway access, there are several options available for the property,” explains Julian Vautin, Senior Sales and Leasing Executive. “The front retail building presents a perfect investment opportunity via two potential income streams with the possibility of subdividing into a residential component at the rear. Alternatively, it may be possible to build upwards, incorporating retail and office areas to make full use of the site and maximise its value (STCA).”
Vautin considers Weatherall Road to be a “sleeper” location within the Beaumaris and Cheltenham region. “There are few good retail and food options along here, which presents an opportunity for the property to reach its full potential,” he says.
Inspect as advertised or by appointment. NB: All areas and measurements are approximate. All prices are plus GST, unless otherwise stated.