This article is from the Australian Property Journal archive
A DAN Murphy’s on nearly 6,000 sqm of land in Melbourne’s east has hit the market, offering a lease that could have the nation’s largest liquor retailer at the site until 2062.
The property at 2 Fletcher Rd in Chirnside Park occupies a prominent corner location at the intersection of the Maroondah Hwy, opposite triple supermarket anchored regional shopping centre Chirnside Park Shopping Centre.
Woolworths Group leases the 5,917 sqm property, which has commercial 1 zoning and a gross lettable area of 1,387 sqm, on a 15 year term from December 2017 plus options. Current annual base rental is $493,436 plus GST, and the tenant also pays turnover rent.
Walter Occhiuto, Andrew Dawkins and Chris Jones of Dawkins Occhiuto are handling the expressions of interest campaign, which closes 25th June.
“Fundamentally, we believe that this type of asset is exactly what the market is looking for,” Occhiuto said.
The property forms part of the 21 hectare East Ridge Estate. Close by are a 3.9 hectare site slated for retail use, and which had previously been set for Kaufland before the German hypermarket giant abruptly exited the Australian market, and a 9.3 hectare development block that will be used for residential and a retirement village.
