Business Daily Media

PRAHRAN WAREHOUSE SNAPPED UP


A private local developer has bought a warehouse at 35-39 Clifton Street in Prahran, reflecting the  renewed appetite in the post-lockdown climate for inner-city development sites in Melbourne.

The high-clearance warehouse occupies a 470-square-metre site at and is currently home to local health  food wholesaler, Emma & Tom’s, on a three-year lease term. It is currently zoned Activity Centre Zoning,  allowing for conversion to high density housing.

Savills Australia’s Julian Heatherich and Benson Zhou brokered the deal via private sale on behalf of  local private vendor.

Mr Heatherich saying the site represented “a rare opportunity to deliver a landmark project within the  vibrant and highly desirable suburb of Prahran.”

“The site’s flexible zoning under the City of Stonnington Planning Scheme could support development of  up to eight levels, subject to council approval,” he said.

“This area is firmly entrenched as one of the most affluent city-fringe precincts in Melbourne, underpinned  by a thriving retail, café and dining culture that is driving strong demand for apartments in the immediate locale.

“The connectivity of the site, on the doorstep of Chapel Street and within close proximity of Prahran and  Windsor’s tram and train lines, was equally appealing to the buyer.”

The sale represents a rate of $9,574 per square metre for the 470-square-metre site, and a yield of 1.50  per cent. 

Emma & Tom’s delivers a short-term holding income of $67,496 net per annum.

Property

Reventon’s Brick by Brick Charity Build to Auction Fully Furnished Family Home

Imagine transforming a $1 million dream home into hope and security for countless Australians in need. Imagine no more. In a groundbreaking act of generosity, Reventon, a Melbourne-base...

Business Daily Media - avatar Business Daily Media

Essential Considerations Before Removing a Tree in Sydney's Inner West

Tree removal is a significant task that requires careful deliberation, especially in urban environments like Sydney's Inner West. It involves understanding legal requirements, assessing en...

Business Daily Media - avatar Business Daily Media

Why Carports are a Smart Addition for Australian Homes

Car enthusiasts and car fanatics love their vehicles a little too much. Australian weather is an enemy for vehicles since there could be rain showers or hail storms. The need for a carpo...

Business Daily Media - avatar Business Daily Media

The Ultimate Choice for Modern Kitchens

Benchtop is the chandelier of the kitchen. It is one of those pieces that is of utmost central attention. It should be aesthetically very pleasing and durable. In the meantime, it should...

Business Daily Media - avatar Business Daily Media

2025: E-Commerce's Reinvention Begins Now

This has been a year of disruption for the retail sector, but if 2024 was about survival, 2025 is about reinvention. With consumers evolving faster ...

4 Key Ways to Protect Your Small Business During Your 2025 Launch

With a focus on key protective measures, these tips equip you with the necessary insights to ensure a successful and secure start. Whether you're ...

Digital Matter Launches New Tracking Solution

New Remote Monitoring Solution:  Accuracy, Performance and Longevity   Digital Matter, a leader in low-power GPS and IoT hardware development, ha...

Unveiling Amazon Nova: The New Generation of Foundation Models

Amazon’s latest state-of-the-art foundation models offer intelligence and industry-leading price performance Amazon Nova models enhance the exten...

Belvedere continues Christmas tradition of donating toys to children in need

Christmas is a time for giving, and LewisLand Group is helping brighten the season for sick children through its donation of $10,000 worth of toys...

Retail Reinvented: How Technology and Consumer Confidence Will Shape 2025

As we approach 2025, Australia's retail sector stands at a pivotal juncture, influenced by evolving consumer behaviours, technological advancement...

Sell by LayBy