Melbourne CBD retail investment in Capitol Arcade offered
A CBD retail investment within Melbourne’s historic Capitol Arcade has been offered to the market.
Colliers International’s Chris Ling, Anthony Kirwan and Oliver Hay have been appointed to sell Shop 3, 115 Swanston Street via an international on-site public auction campaign.
The property has offers net lettable area of 29 sqm within the Capitol Arcade, which is home to the historic Capitol Theatre.
“It is expected to attract wide-ranging interest from a diverse group of buyers, both local and offshore as well as first time commercial entrants due to its competitive price point,” Mr Ling said.
Located at the heart of the Melbourne CBD’s bustling retail precinct, directly opposite Melbourne Town Hall, the property has dual access via Swanston Street and Presgrave Place.
Shop 3, 115 Swanston Street is fully leased on a seven year term to hospitality operator 30ML Coffee.
The tenancy provides a net annual income of approximately $56,388 (approx.) with fixed annual increases.
Mr Ling said the immediate area would benefit significantly from the creation of a new Town Hall Station as part of the $11billion Melbourne Metro Tunnel project.
