This article is from the Australian Property Journal archive
SIX shops in the retail heart of Williamstown in Melbourne's inner west are up for grabs, as a whole or individually.
Fitzroys is offering six shops located at 66 Douglas Parade Williamstown, which will be sold by expressions of interest, closing Thursday 9th May.
The stores opposite Coles are part of a retail complex, the former site of the Burke & Co Pty Ltd department store, which operated from 1926 until 2008.
Five of the six shops are leased, as follows:
· Shop 1 – Jas Stephens – 108 sqm approx – $86 ,614 plus GST
· Shop 2 – vacant – 106 sqm approx
· Shop 3 – Hollywood Nails – 105 sqm approx – $86,851 plus GST
· Shop 4 – Pressto – 87 sqm approx – $64,258 plus GST
· Shop 5 – The Freedom Machine – 175 sqm approx – $127,339 plus GST
· Shop 6 – Lulu Katon – 69 sqm approx – $50,000 plus GST
All leases contain relocation and redevelopment clauses.
The property covers a total land area of 737 sqm approx, with three combined St frontages of 80 sqm approx. Frontage to Douglas Parade is 18.31m approx, to Stevedore St 38.62m approx and to Coxs Garden 22.86m approx.
Fitzroys associate James Gregson said the properties provided purchasers with the opportunity to acquire a highly sought after retail investment in one of Melbourne’s premier retail locations.
“The properties also offer significant multi-level development potential and strong future growth potential.
“Additionally, the development of the woollen mills nearby on Nelson Place, comprising a number of residential towers up to 12 levels, will further enhance Williamstown’s dynamic retail precinct adding an additional 5,000 residents to the immediate vicinity,” he added.
Nearby at 28 Ferguson St, Fitzroys is also selling the two-storey corner hotel/restaurant with $1.3 million plus fit-out.
The property will go under the hammer on Wednesday, 24th April at 1pm on site.
On the prominent corner site of 300 sqm, the two-storey building comprises a total area of 550 sqm. The ground floor can easily provide for 80-100 guests and includes a premium-grade kitchen. The first floor includes a function space, bar and veranda/terrace with spectacular city and water views.
Property Review
