Aston are pleased to present 442-452 North Road, Ormond for sale by Expression of Interest closing on Thursday 29th February at 3pm.
Property Features:
• Tenant is a registered charity = LAND TAX EXEMPT
• Significant 2 storey building of 1,559 sqm*
• Security of Income with definite upside
This outstanding corner property is located in the highly desirable and affluent suburb of Ormond a mere 12 kilometres from Melbourne’s CBD. The property originally started life as a suburban office building. In recent times it has been converted and adapted to operate as a school and is leased to Beis Efraim College, an orthodox Jewish School with students across all age groups.
With 8 years remaining on an 18 year lease the asset provides a strong and secure income stream in a time when income has never been more important. There is also undeniable development potential well into the future at leases end. The outstanding suburb and superior corner location will allow for a significant high-density redevelopment. There is a demolition clause in favor of the landlord that can be activated from 2031 providing 12 months’ notice.
Enjoy the security of income whilst planning for an even brighter future in what is one of Melbourne’s more affluent suburbs.
Aston highly recommend this strategic commercial property for your serious consideration. For further information, please contact the exclusive selling agents.
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