Malvern Road, Malvern retail/residential site listed

Teska Carson is marketing a retail/residential investment opportunity at Malvern in Melbourne’s inner east.

The 1411 Malvern Road property comprising a two level 200 sqm building with both retail and residential components will be auctioned July 20 at 1pm on site.

It is located between Cressy Street and Tooronga Road.

The ground floor includes a self-contained retail tenancy accessed from Malvern Road and a rear one-bedroom apartment which is accessed from the laneway, while upstairs, also with access from the rear, is a first floor, two bedroom and study apartment with a north facing balcony.

The 241 square metre site, zoned Commercial 1, has seven metres street frontage and rear laneway access to parking for three cars.

The property will be sold subject to three lease agreements currently returning a combined $83,228 per annum on 12 month and less expiries.

Teska Carson’s Matthew Feld and Michael Ludski have marketed the property as "a lot of potential as a secure investment in a prime location" with potential for reconfiguration and multiple owners.

Mr Ludski said the low vacancy rate within the precinct reflected the demand for inner-east property generally but particularly along key thoroughfares such as Malvern Road.