CITY-FRINGE FREEHOLD WITH INCOME & UPSIDE
Lemon Baxter and Stonebridge Property Group are pleased to present 351 William Street, West Melbourne, a substantial city-fringe freehold offering immediate income, vacant accommodation and future repositioning potential.
Positioned on a 760 sqm* landholding with approximately 15 metres* of frontage to William Street and rear access via Milton Street, the property comprises 571 sqm* of net lettable area across two levels, together with 12 on-site car spaces.
The ground floor is leased to Printing Intelligence Pty Ltd until February 2029, generating a passing net income of $90,124 p.a.*, while the 301 sqm* first floor is vacant and ready for occupation or re-leasing.
With potential fully leased net income of approximately $190,594 p.a.* and flexible Mixed Use Zoning, the property presents a compelling opportunity for investors, owner occupiers and developers seeking a well-located city-fringe holding with multiple pathways for value creation (STCA).
Key features include:
– 760 sqm* landholding
– 571 sqm* total net lettable area
– $90,124 p.a.* passing net income
– $190,594 p.a.* potential fully leased net income
– 12 on-site car spaces
– Double frontage with rear access via Milton Street
– Ability for dual tenancies with no capital expenditure required
– Additional further cut up strategies available noting third entry from Milton Street
– Flexible Mixed Use Zone (MUZ)
– Ground floor lease secured until February 2029
– Future vacant possession flexibility via early termination clause from 20 February 2027.
– Strategic West Melbourne position close to the Melbourne CBD
– Perfect for accountants, engineers, lawyers, builders and more, looking to occupy a city fringe headquarters with security of passing income
For further information or to arrange an inspection, please contact our selling agents.
