30-38 THISTLETHWAITE STREET, SOUTH MELBOURNE
Savills is delighted to offer for sale this high quality office building located at 30-38 Thistlethwaite Street, South Melbourne. This striking two level office building is fully leased to a longstanding tenant and is ideally located in the heart of South Melbourne, close to Southbank and Melbourne’s CBD, presenting an outstanding investment opportunity with significant future development potential. The key attributes of the property include:
A large, high profile office building of 1,055sq m*
Highly valuable landholding of 884sq m* with three street frontages
Capital City Zone 1 - providing significant future development potential
Design and Development Overlay 30 provides current height potential of at least 18 levels (STCA)
Fully leased to award winning business ´Arid Zone´, in operation since 1987.
5+5+5 year lease from May 2016 with fixed annual rental growth and demolition clause
Current Net Rental: $156,060 per annum* + Outgoings & GST
Significant future rental upside potential with market review in 2021
Undercover parking for 7 vehicles
Perfectly positioned on the cusp of the CBD within easy walking distance to South Melbourne Market, Crown Casino, South Wharf retail/dining precinct and more
One of Melbourne´s most active and sought after development locations with countless surrounding projects underway
30-38 Thistlethwaite Street, South Melbourne is For Sale by Expressions of Interest closing Wednesday 18 July at 2pm.