Vacant two-level Toorak Village freehold on the market

Vacant two-level Toorak Village freehold on the market
Vacant two-level Toorak Village freehold on the market

A two-level freehold within Toorak Village, one of Melbourne’s most tightly held retail shopping strips, has hit the market. 

The property will be auctioned November 29.

Located at 472 Toorak Road, the property comprises a 110 square metre building with ground floor shop front, commercial kitchen and rear courtyard.

The first floor, which can be separately accessed from the rear, includes an open-plan layout with a kitchenette and bathroom. 

The 139 square metre site zoned Commercial 1 has 4.6 metres frontage to Toorak Road and rear laneway access to a lock up garage with parking.

There is also a permit for an additional level at the rear.  

Commercial 1 zoning aims to create vibrant mixed use commercial centres for retail, office, business, entertainment, community and residential uses.

The property will be offered with vacant possession.

It is situated directly opposite the Vicland Property Group’s proposed $600 million commercial re-development of Village Way, which is set to house circa 12,000 square metres of office space and a ground floor Coles supermarket.

Teska Carson’s Luke Bisset and Jack Kelliher have the listing. 

"This property offers excellent investment credentials including a highly regarded retail and commercial location within Melbourne’s wealthiest suburb, with vacant possession and first rate access and exposure via Toorak Road frontage and a rear laneway," Bisset said.

Toorak Village has more than 270 shops and businesses including fashion boutiques, cafes, fine dining, and highly regarded medical and professional services.

It is well serviced by public transport facilities including Toorak and South Yarra railway stations, trams and major arterial routes.

Kelliher said the local retail sector thrived on the back of a predominantly young and affluent demographic.

He said the locality had been the beneficiary of major redevelopment over recent years including more than 3000 apartments, either currently under construction or recently completed. 

It is being offered vacant possession.

Tags: 
Retail Toorak

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