A Trophy City Fringe Corner With Significant Medium-Term Upside!

Location: Cobden Street, North Melbourne VIC 3051

• 1-3 Cobden Street stands as one of Australia’s most attractive city fringe freehold investments with unrivalled fundamentals and a position set for immense growth
• The unmissable building enjoys 32 m* of combined corner frontage providing valuable business exposure and an added level of flexibility for future development outcomes (STCA)
• 100% leased by hospitality institution ‘Yeonga Korean BBQ’ – the highly coveted tenant has occupied the property for over a decade, boast a huge following & a 4.5-star rating from 1,200+ Google reviews
• The property is leased on a 5-year term with favourable fixed 4% annual increases and currently provides an annual income of $91,248* + GST + Outgoings
• Favourable zoning, significant height precedent and potential site access by 2032 provide exciting future development/land bank opportunities (STCA)
• Set to benefit from major surrounding infrastructure projects, notably the $1.7 billion Queen Victoria Market upgrade that is expected to deliver 4000 new jobs and 20,000 new residents – an exciting driver of retail trade for local business
• Positioned on the edge of the CBD grid, just 50 m* from the globally recognized Queen Victoria Markets (that enjoys 10,000,000+ visitors annually) and 650 m* from the Melbourne Central Train Station
• Benefiting from one of Melbourne’s most generous zonings (Capital City Zone 5) – Schedule 61 to the Design and Development Overlay allows for a height limit on the site of 8-levels (24 m*)

*This commercial listing item is in conjunctional with Stonebridge Property Group.