Collins Street, Melbourne retail offering set for auction

A retail investment in Melbourne's CBD is set to go under the hammer.

Located at 405 Collins Street the 700 square metre property is situated between Queen and William Streets, less than 100 meters from Cbus’ upcoming development, 447 Collins Street.

It has partial ground floor and basement tenancy to Bluebag Retail Café and Distribution Centre.

The remaining ground floor is occupied by First National Real Estate with an open-plan and modern office fit-out.

Both tenants have a combined rental income of $185,000 per annum with existing outdoor seating permit for 18 patrons onto Collins Street.

The basement area is currently fitted with commercial kitchen and separate access is available to the basement via Collins Street which provides future flexibility for leasing ground floor and basement separately.

The auction is scheduled for December 1 through CBRE agents Benson Zhou, Tom Tuxworth and Paul Tzamalis.