Hawthorn Retail/Residential Value Add Opportunity

Brilliantly positioned on bustling Glenferrie Road just south of Burwood Road, walking distance to public transport, Swinburne University of Technology, Hawthorn Town Hall, Coles, bars, cafes and restaurants is this Commercial 1 zoned brick building comprising two retail tenancies (one vacant, one on monthly tenancy) and three first level, small residential units which are all currently leased. The two level brick building sits on a triangular shaped site of approximately 225 square metres, with a frontage to Glenferrie Road of over 18.5 m and is ripe for the astute purchaser to add value in any number of ways including renovation, extension or redevelopment (STCA). The property is being offered with the benefit of short term tenancies returning $72,216 per annum on a semi-gross basis with the potential to achieve higher returns. This is an opportunity that rarely presents itself and should not be missed. Inspect by Appointment Only.