Church Street, Brighton NAB premises for August auction
The NAB bank branch premises in Church Street, Brighton has come onto the market for the first time in 23 years.
It is expected to fetch as much as $6 million.
NAB has a long-term lease over the property, and is presently returning $214,470 per annum (plus outgoings including land tax).
The Church Street property is positioned between Carpenter Street and Saint Andrews Street.
The retail strip is currently experiencing a record low 0% vacancy.
Most of the neighbouring tenants are high-end retailers such as Country Road, Mecca, Scanlan Theodore, Seed Heritage, Bed Bath N Table, and Sportscraft.
Agent Chris James, at the Fitzroys agency, asserted that “Church Street has retained its reputation as Melbourne’s best-performing retail strip, [while] consistently boasting the State’s lowest vacancy rates”.
The 288 square metre site is scheduled to be auctioned on August 29.
