Mentone

Project Description

The property is situated in the north eastern corner of Nepean Highway and Oak Avenue, approximately 20 kilometres south of the Melbourne central business district. Mentone is a well established and fully developed bayside suburb of Melbourne. The site is zoned 'Commercial 2' which allows for a range of land uses such as supermarket and shop, cinema, service station, large format retail and office. The site has also been identified as a future re-zoning opportunity to allow residential development. Nepean Highway, a major arterial road that provides access between the Mornington Peninsula and the Melbourne central business district, carries large volumes of traffic and subsequently the highway frontage is well developed for commercial uses. Surrounding the property are showroom/service retail properties, large industrial properties and residential land. Bunnings has relocated to another premises and has subleased the property to Super A-mart who commenced trade in June 2013.

Land area

25,190 m²

The total GLA/retail area

11,814 m²

Lease Commencement Date

24/9/1998

Total Property Cost

$10,288,369

Current valuation

$20,800,000

Annual Rent

$1,655,546

Project Location

Show map
...