A substantial landholding in the heart of Brighton has been listed for sale for circa $5 million, presenting a key blue-chip investment opportunity to buyers.
The property at 429 Bay Street spans 1,300sqm across three titles within Commercial 1 Zoning and offers a diversified income stream due to its existing medical centre and two residential dwellings. It additionally benefits from its location adjacent to a Coles supermarket and proximity to North Brighton train station.
CBRE agents Sandro Peluso, Josh Twelftree, Jimmy Tat and David Minty of the Healthcare and Development Sites divisions have been exclusively appointed to transact the offering on behalf of the owner Stephen Jones.
Mr Peluso said; “Current market conditions are translating to buyers wanting a secure return on their investments, which the property offers with its diverse income stream from the residential and healthcare tenancies.”
Mr Minty added; “Brighton is regarded as one of Victoria’s most desirable investment locations because of its median household income that is well in excess of the average for greater Melbourne. As a result of its strong economic profile, the area has proven to be popular with investors over the past decade.”
The property is being offered to market by way of on-site auction on Friday March 1, 2019 at 12:30pm (AEDST).
The property at 429 Bay Street spans 1,300sqm across three titles within Commercial 1 Zoning and offers a diversified income stream due to its existing medical centre and two residential dwellings. It additionally benefits from its location adjacent to a Coles supermarket and proximity to North Brighton train station.
CBRE agents Sandro Peluso, Josh Twelftree, Jimmy Tat and David Minty of the Healthcare and Development Sites divisions have been exclusively appointed to transact the offering on behalf of the owner Stephen Jones.
Mr Peluso said; “Current market conditions are translating to buyers wanting a secure return on their investments, which the property offers with its diverse income stream from the residential and healthcare tenancies.”
Mr Minty added; “Brighton is regarded as one of Victoria’s most desirable investment locations because of its median household income that is well in excess of the average for greater Melbourne. As a result of its strong economic profile, the area has proven to be popular with investors over the past decade.”
The property is being offered to market by way of on-site auction on Friday March 1, 2019 at 12:30pm (AEDST).
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.