38 Grosvenor Street, Abbotsford

JLL Melbourne is delighted to present to the market 38 Grosvenor Street, Abbotsford, a highly strategic and reliable investment opportunity with limitless future potential.

Key details of the opportunity include:

+ Substantial inner-city multi-storey car park totaling 478 bays

+ 100% leased providing a secure income stream with minimal capital expenditure requirements

+ Net income $964,352 per annum* (as at May 2023)

+ Anchored by Carlton & United Breweries, occupying 52% (250 car bays) on a 10-year lease term

+ Captive tenant market with a mix of local, national and ASX-listed covenants

+ Valuable underlying landholding of 3,880sqm* with dual street frontages to Grosvenor and Flockhart Streets

+ Versatile opportunity to unlock additional value by repositioning and/or redeveloping the existing asset (STCA)

+ Located close to Melbourne’s largest inner-city sub-regional shopping centre, Victoria Gardens, set to undergo a $900million expansion (construction of 1,679 apartments and 40,000sqm+ commercial and retail)

+ Exceptional connectivity to the Melbourne CBD and Greater Melbourne via Victoria Street trams, North Richmond Station, the Eastern Freeway and bicycle routes along the Yarra River

+ Consistent demand growth, being surrounded by major corporate businesses (Australia Post, Honeywell) as well as several recently completed residential developments

+ An extremely rare opportunity to purchase a hassle-free investment within one of Melbourne’s fastest-growing city fringe precincts

*Approx.

EOI NOW CLOSED - OFFERS UNDER REVIEW

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

Josh Rutman | 0411 27 37 46

Tim Carr | 0415 767 915

MingXuan Li 李名轩 | 0498 688 998