This article is from the Australian Property Journal archive
CHINESE-backed developer Dahua Group Australia is offloading a car wash investment on a corner lot close to its 330-unit apartment project in Melbourne’s eastern suburbs.
Investors and developers are expected to show interest in the Burwood Road and Camberwell Road corner site, spanning 991 sqm with favourable commercial 1 zoning.
EcoWash has a five-year leased that brings annual income of $225,000.
Stonebridge Property Group’s Kevin Tong, Rorey James and Nic Hage are marketing the property. Expressions of interest campaign close on 2nd June.
Tong said the zoned site will attract investors and developers across the country given the prime corner site coupled with the vendor favoured development clauses within the lease.
“We’re located on one of the best corners in the inner east, being surrounded by the suburbs of Camberwell, Hawthorn, and Hawthorn East (all with median house prices of over $2 million.”
Dahua Group added a large format retail centre in Sydney’s west to its portfolio last year in a $46 million deal.
Late in 2016, the company bought up three development sites in Melbourne’s western growth suburb of Point Cook in a then-record circa $360 million transaction.
