51-59 Fennell Street, Port Melbourne

51-59 Fennell Street, Port Melbourne comprises two fully leased buildings across a Capital City Zone (CCZ1) landholding, located approximately 2km from the Melbourne CBD.

With dual frontage to Fennell and Ingles Street within the 480ha* Fishermans Bend renewal precinct, the property enjoys immediate access to the West Gate Freeway and CityLink.

The property is occupied by two established tenants – Michelin Australia and HungryHungry, a hospitality technology company. The property presents near-term leasing considerations, while also creating opportunity to capture rental reversion. Alternatively, the property may suit owner occupation.

51-59 Fennell Street is being offered at well below replacement cost. The property’s Capital City Zoning with no height restrictions and support for mixed use underpins compelling medium to long-term development potential of the site.

Key Selling Features:

• 100% leased generating $739,764 p.a.* net income
• Strong quality tenants – Michelin Australia and HungryHungry
• Outstanding parking with 59 spaces* (no levy)
• Flexible zoning with no height limit (minimum 16 storeys plus STCA)
• Offered below replacement cost with strong land value fundamentals
• Outstanding access to all parts of metropolitan Melbourne
• Potential owner-occupier and repositioning opportunity

*approx.

Transaction Advisor – Charter Keck Cramer