Teska Carson is marketing an owner-occupier, investment or future development opportunity at Cremorne (Richmond) in Melbourne’s sought after inner east.  The property will be auctioned on Wednesday, March 2, at 1pm on site.
Currently configured as a modern, single level, office space, the 29 Cremorne Street property is located within easy reach of Richmond railway station, trams, and Swan Street shops, restaurants and cafes. It is also within close proximity of major road networks including CityLink, the Monash Freeway, and Punt Road,
Recently refurbished, the modern, 135 square metre, building comprises both open plan and partitioned office spaces and features a private garden courtyard, kitchen, bathroom, shower and air-conditioning.
Zoned Commercial 2, the 212 square metre site has a frontage of 7.4 metres to Cremorne Street and includes on-site parking for three cars.
The property is being offered for sale subject to a short term lease, expiring December 2022, with a one year option, at a current rental of $49,920 per annum plus GST and outgoings.
According to marketing agents, Teska Carson’s Luke Bisset and Matthew Feld, the popular area continues to see a significant upsurge in commercial and residential development.Â
``Population growth is driving residential and commercial development and this, along with the unprecedented demand for commercial space from a wide range of tenants, has seen extremely low vacancy rates within what has been dubbed Melbourne’s innovation capital,’’ Mr Bisset said.
He said the property was ideally suited for owner-occupation, investment or as a future development opportunity.
``The property represents an exceptional opportunity to acquire a commercial property asset in one of Melbourne’s most sought after residential/commercial areas.Â
``Properties such as this, in such popular precincts and so close to the CBD, are becoming increasingly rare as the demand for inner city assets, and particularly Cremorne, intensifies.
``As such this property offers owner-occupiers a very accessible location for their business and  for investors and developers an opportunity to capitalize on the dwindling number of options for inner suburban commercial tenants,’’ Mr Bisset said.
Cremorne lies in the south-western corner of Richmond and adjacent to Melbourne’s premier sporting facilities and parklands, including the Rod Laver Arena, the MCG, the Royal Botanic Gardens, and the Yarra  River.
Mr Feld said the property’s key attributes included:
- Its suitability for owner-occupiers, investors and developers;
- Short term lease;
- High quality finishes;
- Excellent public transport and access to the CBD;
- Close proximity to major road networks:
- Close proximity to shopping; and,
- Close proximity to parks and gardens, the MCG and Yarra River.
