|Call for Offers||2022-04-06|
JLL Melbourne Commercial Sales have the exclusive privilege of offering for sale this prominent Collingwood freehold positioned on one of Melbourne’s most popular and highly sought-after retail strips at 428-430 Smith Street, Collingwood.
Key details of the opportunity include:
- Single level freehold of 345sqm
- High exposure frontage to the acclaimed Smith Street, plus valuable rear laneway and two secure car parks
- Leased to New Balance Australia Pty Ltd – a wholly owned subsidiary of New Balance Intermediate Inc. with annual revenues of more than $4.4 billion (USD)
- Long term tenant that has been in occupation for 15 years
- 3 + 3-year lease from December 2020
- Current net rent of $139,725 per annum* plus GST and outgoings
- Fixed annual increases of 3.5%
- Valuable Commercial 1 zoning suits numerous redevelopment outcomes (STCA)
- Premium 292sqm city fringe landholding
- Convenient access to the Melbourne CBD via accessible tram services operating along Smith Street
- Global magazine publisher Time Out Group voted Smith Street the ‘Coolest Street in the World’ in 2021.
PROUDLY SOLD BY JLL
To obtain further information or to arrange a private inspection, please contact the exclusive selling agents.
Nick Peden | 0402 011 266
Mark Stafford | 0404 401 053
Tim Carr | 0415 767 915
MingXuan Li 李名轩 | 0498 688 998
- Leased to Global Tenant New Balance
- 3 + 3 Year Lease with Fixed 3.5% Increases
- Blue-Chip Collingwood Investment