After over 60 years of ownership, Telstra has decided to offer for sale a blue-chip landholding in a premium Hawthorn East locale, which is bound to generate significant market interest from both landbank investors and developers alike.
Gross Waddell ICR’s Danny Clark, Alex Ham, Andrew Greenway and Glenn Ye, alongside Charter Keck Cramer as Transaction Advisors, have been appointed to run the public Expression of Interest campaign for 80 Camberwell Road, Hawthorn East.
This sprawling landholding benefits from two street frontages to both Camberwell Road and the picturesque tree-lined street of Roseberry Street and resides on a highly valuable 1,345 sqm* of Commercial 1 (C1Z) land.
Danny Clark says, “Very rarely do substantial landholdings of this size and scale become available in the inner east of Melbourne, especially with holding income to one of Australia’s ASX 20 listed entities”.
“Offering a triple net lease back for 3 years, it provides incoming developers the flexibility to maximise their development envelope and ensure they capitalise off such a rare offering, while earning rent,” continues Danny Clark.
Andrew Greenway said, “This precinct of Hawthorn East is one of Melbourne’s most prestigious residential catchments and has surrounding height precedents of up to 6 levels, allowing incoming developers to create a world-class mixed-use project (STCA)”.
“The property is nestled amongst a wide array of retail and lifestyle amenity and boasts easy access to the highly popular Glenferrie Road and Burke Road retail precincts, making the location uniquely attractive to a number of end purchasers”, adds Alex Ham.
Glenn Ye said, “80 Camberwell Road benefits from being merely meters to both Auburn and Camberwell train stations and is easy access to a number of Melbourne's elite educational facilities as well as Swinburne University”.
80 Camberwell Road, Hawthorn East is being offered for sale by Expressions of Interest, closing on Thursday the 19th of October 2023 at 3:00 pm.
