398-402 Smith st, Collingwood VIC 3066

Land/Development

PROMINENT SMITH STREET FREEHOLD PRIMED FOR REDEVELOPMENT

Lemon Baxter and JLL Melbourne Commercial Sales are pleased to have the exclusive privilege of offering for sale this prominent Smith Street freehold packed full of potential.

Key details of the opportunity include:
– Prominent Smith Street landholding of 599sqm*.
– High-profile building comprising of 4 ground floor shops and 3 offices totalling 659sqm*.
– Extensive frontage of over 22.5 metres to Smith Street, plus side laneway access.
– Valuable on-site car parking for 12 cars.
– Fully let net income of $233,746 per annum*.
– Majority of the building is currently leased.
– Sought after Commercial 1 Zoning allowing for a variety of redevelopment outcomes including residential, commercial and retail (STCA).
– Local planning parameters provide for large scale development outcomes with excellent nearby and adjacent height precedent of 6-8 levels.
– Positioned on Smith Street, recently announced by Time Out as the ‘Coolest Street in the World’.
– A vibrant and eclectic city-fringe location with an absolute abundance of surrounding retail and lifestyle amenity.
– A remarkable opportunity to occupy, value-add or develop on this hotly contested retail strip.

398-402 Smith Street is For Sale via Expressions of Interest closing on Wednesday 27 October 2021 at 2pm (AEDT).

To obtain further information or to arrange an inspection, please contact the exclusive selling agents.

Lemon Baxter
Paul O’Sullivan | 0412 410 366
Cameron Elliott | 0412 714 506

JLL
Nick Peden | 0402 011 266
Mark Stafford | 0404 401 053
MingXuan Li | 0498 688 998

Prominent 599sqm landholding
Valuable Commercial 1 Zoning
Strong income with upside

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