Blackburn Golden Mile site ideal for developers
A PIECE of Whitehorse’s premier Mega Mile is up for grabs, offering buyers the chance to terminate the existing leases and redevelop the site.
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A PIECE of Whitehorse’s premier Mega Mile could be overhauled, meaning the commercial hotspot would get a new business.
A Blackburn property has hit the market, offering new owners the chance to terminate the leases to make way for redevelopment.
The almost 8000 sqm site is made up of 200-206 Whitehorse Rd and 2-8 Ashburn Place.
The Early Settler Group have tenanted the Whitehorse Rd building for the past decade, while Nationwide Towing occupies the building behind.
GOLDEN MILE’S SPARKLING OPPORTUNITY
The site has not been up for sale in 27 years.
Burgess Rawson development site sales manager Rick Silberman said he expected it to be highly sought after, with few buying opportunities arising along the high profile 3 km retail strip.
“The Golden Mile precinct in Blackburn is one of the most tightly held pockets for commercial assets,” Mr Silberman said.
He said the property’s size and 68 m Whitehorse Rd frontage, which is said to be passed by 40,000 vehicles each day, made it highly appealing to investors and developers.
The investment opportunity offers a combined rent of over $546,000 per annum.
New buyers could also make use of the demolition clauses which bind both leases, and are enforceable with twelve months.
“(The Land’s) sheer size and attractive zoning signifies the site’s underlying land value,” Mr Silberman said.
OLD GEM CONVERTED INTO NEW FAVE
THE TOILET WARRIOR AIDING WOMEN
INSIDE BLACKBURN’S DEMENTIA CAFE
The site falls under Commercial 2 and Industrial zoning in the Whitehorse Planning Scheme, meaning a range of commercial development options are available, but residential development is out of the question.
Expressions of interest are being taken until October 31 at 4pm.
Another piece of the mile — 129-131 Whitehorse Rd, Blackburn — is also up for sale.
The home of Sparklers Hand Car Wash, which is bound to a lease until at least 2027, will be auctioned on October 24.
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