Three separate properties in Clifton Hill will be auctioned within 90 minutes of each other, presenting investors and owner-occupiers with a rare property shopping experience.
Three properties present rare buyer shopping experience
Three separate properties in Clifton Hill will be auctioned within 90 minutes of each other, presenting investors and owner-occupiers with a rare property shopping experience as Melbourne’s apparently insatiable investment market rolls on into another year.
According to Savills Australia marketing agents, Julian Heatherich, Nick Peden, and Jesse Radisich, the sale of the properties at 44 Alexandra Parade, 3 Hilton Street and 10 Reeves Street, reflects the increasing demand for Clifton Hill property.
“The market for inner-city property has rarely been stronger and Clifton Hill is now clearly on the radar as it offers very close proximity to the CBD, the Eastern Freeway, and trams and train services.
“The local area which includes Brunswick, Lygon and Smith Streets and Queens Parade has also been very popular with both residential and commercial users over several decades with property values appreciating accordingly,” Mr Heatherich said.
Mr Peden said the properties would attract a wide range of end users and buyers, attracted to the underlying value of the city fringe location and its abundance of retail and lifestyle amenities.
“With Melbourne growing at such a rapid rate, these properties provide potential purchasers with an extremely rare opportunity to secure a highly desirable location within a tightly held suburb,” he said.
The properties include:
- 44 Alexandra Parade - a single story, 140 square metre, corner freehold with an internal office fit-out and storage and roller door access
- 3 Hilton Street - a 205 square metre, office/warehouse with roller door access
- 10 Reeves Street - a modern 884 square metre showroom/warehouse on a 1,175 square metre site
Mr Radisich said he expected the fact that the three properties were to be auctioned within 90 minutes of each other would attract strong crowds with multiple bidders.
“Given the exceptional demand we have seen for inner city properties throughout the past 12 months within this price bracket, we expect a very strong market reaction from both investor and owner-occupier communities actively seeking well placed investment opportunities with growth potential,” Mr Radisich said.
Key attributes of the three properties include:
- Vacant possession
- Direct access to Melbourne’s major linkages including the Eastern Freeway and Eastlink
- Commercial 2 zoning
- Roller door access and onsite car parking
- Located only 2km from the Melbourne CBD
- Surrounded by an abundance of retail and lifestyle amenity in Clifton Hill and neighboring Fitzroy and Collingwood
The properties will be auctioned on-site on Wednesday, March 1 at 12 noon, 12.30pm and 1.30pm respectively.
Learn more about Savills Victorian CBD and Metropolitan Sales services.