11 Newton StreetCremorne VIC 3121
Property Details for 11 Newton St, Cremorne
Last Listing description (September 2023)
Dawkins Occhiuto are pleased to exclusively present for your consideration this exceptional opportunity to acquire 11 Newton Street, Cremorne.
The property comprises a high quality, three-storey office building which is currently 100% leased to Figurehead Construction, Energy Locals and Robert Luxmoore Project Management. With the current leases expiring in 2024-2025, the asset provides owner occupiers the opportunity to occupy the premises in the near-term.
The Commercial 2 zoned site of 1,063 sqm* offers the potential to be developed into a 9-level office (STCA), with significant holding income to provide security in the medium-term. Cremorne has rapidly become Melbourne's hottest development commercial precinct and has garnered international acclaim due to its reputation as a precinct where major companies establish their headquarters.
Key features of 11 Newton Street include:
+ Three-storey office with an NLA of 1,494 sqm* and 25 car bays
+ 100% leased investment with a 1.4-year* WALE
+ Quintessential Cremorne office with polished concrete floors, glazed faade and industrial-style fitouts
+ Net Passing Income of $547,402 p.a.*
+ 5-Star NABERS Energy Rating
+ Significant site area of 1,063 sqm* with 22 metres* of frontage to Newton Street
+ Flexible Commercial 2 zoning
+ Located in the vibrant Cremorne precinct, a bustling area which is renowned for its thriving business and lively social scene
This exceptional property is offered for sale via Expressions of Interest campaign closing Thursday, 17 August 2023 at 3.00pm (AEST).
Please contact exclusive selling agents, Dawkins Occhiuto for more information.
*Approximately as at 1 July 2023
Termination Clause: Pertaining to one lease, the landlord may exercise the termination additional provision for the further term of the lease. A break fee of $140,000 is payable by the landlord to the tenant if this clause is exercised.
STCA - Subject to Council Approval
Property History for 11 Newton St, Cremorne, VIC 3121
- 08 Sep 2023Listed for Rent - Price not available
- 06 Sep 2023Sold for $11,593,500
- 18 Jul 2023Listed for Sale Contact Agent to Discuss
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About Cremorne 3121
The size of Cremorne is approximately 0.7 square kilometres. It has 3 parks covering nearly 0.5% of total area. The population of Cremorne in 2011 was 1,564 people. By 2016 the population was 2,040 showing a population growth of 30.4% in the area during that time. The predominant age group in Cremorne is 30-39 years. Households in Cremorne are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Cremorne work in a professional occupation. In 2011, 50.4% of the homes in Cremorne were owner-occupied compared with 48.9% in 2016.
Cremorne has 2,227 properties.
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