Exceptional Brand New Coles Supermarket Investment
Fitzroys is privileged to present 263 Normanby Road, South Melbourne - an extremely rare city fringe investment leased to Australian supermarket giant, Coles.
Occupying 2,345sqm across the ground floor and mezzanine of the prestigious R.Iconic development (950 dwellings), the property is prominently positioned on the corner of Normanby Road and Boundary Street and enjoys a commanding street frontage of 90 metres.
Positioned within the epicentre of the building boom of South Melbourne’s Montague Precinct, there are currently circa 4,800* dwellings within only 500 metres of the property at various stages of completion, construction and planning.
Key investment highlights include:
- Leased to Top 20 ASX listed powerhouse on a 10 year lease plus options
- Trading as Coles Local and Liquorland
- Building area of 2,345sqm* (ground floor & mezzanine) + loading dock
- 17 car parks on title
- Tenant to begin trading in November 2023 at conclusion of current fitout works
- Brand new building with significant tax depreciation benefits
- Perfectly located in front of the Montague Street Light Rail Station
- Within walking distance to Crown Casino, Southbank Promenade, the Melbourne CBD & Docklands
- Direct access to major arterials including Citylink and West Gate Freeway
Normanby Road is an integral part of the Fishermans Bend Urban Renewal plan and is currently undergoing a major transformation and set to become a high-rise thoroughfare, with several 30 plus level developments under construction and planned for the precinct. The property will benefit directly from the precinct's rapidly evolving focus as a residential and employment hub.
263 Normanby Road, South Melbourne is For Sale via Expressions of Interest closing Thursday 15th June at 3pm.
To obtain further information or arrange an inspection, please contact the exclusive selling agents, Fitzroys.