High Income Producing Asset with Huge Development Upside
39-45 Flemington Road, North Melbourne VIC 3051
By Negotiation
Commercial LandSize: n/a
Block size: 1003 m² approx.
(EOI NOW CLOSED OFFERS UNDER REVIEW)
Cushman & Wakefield in conjunction with JLL are delighted to present for the first time in over two decades, 7-Eleven Royal Melbourne located at 39-45 Flemington Road, North Melbourne (cnr Wreckyn Street).
This exceptional opportunity, leased until June 2026 boasts rare intersection exposure and significant development potential ideally located opposite the Royal Melbourne Hospital in Australia's leading education and innovation hub which has undergone $2.8 billion in investment over the past decade.
Located a mere 650m* from Melbourne CBD, 7-Eleven Royal Melbourne is the closest service station to the city and enjoys unrivalled connectivity via tram routes along Flemington Road, and just 200m* from the new Parkville Train station, currently under construction.
Key details of the property include:
- Unprecedented city-fringe landholding on the major corner of Flemington Road and Wreckyn Street, and surrounded by Australia's leading medical, education and technology institutions
- Unrivalled 1,003 sqm* landholding with 62.5m* of combined street frontage
- No further terms beyond 2026, providing near-term development and occupier upside
- Flexible mixed-use zoning suiting a range of development outcomes including residential, BTR, student accommodation, office and healthcare uses (STCA)
- Current passing income of $405,000 p.a.* providing secure holding income
- NET Lease to 7-Eleven Stores Pty Ltd recently announced to have been acquired by the Global parent company, Seven and I Holdings Co. Ltd
- Highly strategic positioning within the Melbourne Biomedical Precinct one of the world's largest and leading biomedical hubs home to 72,960 employees set to increase by over 10% by 2036
- Proven location for successful development, and complemented by adjacency to The Royal Melbourne & Royal Women's Hospitals with a proposed $6bn in expansion
- A boost to future public transport accessibility, with the property strategically located just 200m* from the upcoming Parkville train station, providing unrivalled connectivity to the CBD and surrounding suburbs.
*Approximately
STCA: Subject to Council Approval
7-Eleven Royal Melbourne is For Sale by International Expressions of Interest Closing Friday 8 March 2024 at 12pm (AEDT)
To receive further information or to arrange an inspection please contact the exclusive sale agents below.
Cushman & Wakefield
Oliver Hay | +61 419 528 540
Daniel Wolman | +61 412 957 839
Leon Ma | +61 417 070 725
Alexander Leggo | +61 432 053 747
JLL
Stuart Taylor | +61 402 319 698
Jesse Radisich | +61 402 085 702
Jarrod Herscu | +61 418 155 062
MingXuan Li | +61 498 688 998
Cushman & Wakefield in conjunction with JLL are delighted to present for the first time in over two decades, 7-Eleven Royal Melbourne located at 39-45 Flemington Road, North Melbourne (cnr Wreckyn Street).
This exceptional opportunity, leased until June 2026 boasts rare intersection exposure and significant development potential ideally located opposite the Royal Melbourne Hospital in Australia's leading education and innovation hub which has undergone $2.8 billion in investment over the past decade.
Located a mere 650m* from Melbourne CBD, 7-Eleven Royal Melbourne is the closest service station to the city and enjoys unrivalled connectivity via tram routes along Flemington Road, and just 200m* from the new Parkville Train station, currently under construction.
Key details of the property include:
- Unprecedented city-fringe landholding on the major corner of Flemington Road and Wreckyn Street, and surrounded by Australia's leading medical, education and technology institutions
- Unrivalled 1,003 sqm* landholding with 62.5m* of combined street frontage
- No further terms beyond 2026, providing near-term development and occupier upside
- Flexible mixed-use zoning suiting a range of development outcomes including residential, BTR, student accommodation, office and healthcare uses (STCA)
- Current passing income of $405,000 p.a.* providing secure holding income
- NET Lease to 7-Eleven Stores Pty Ltd recently announced to have been acquired by the Global parent company, Seven and I Holdings Co. Ltd
- Highly strategic positioning within the Melbourne Biomedical Precinct one of the world's largest and leading biomedical hubs home to 72,960 employees set to increase by over 10% by 2036
- Proven location for successful development, and complemented by adjacency to The Royal Melbourne & Royal Women's Hospitals with a proposed $6bn in expansion
- A boost to future public transport accessibility, with the property strategically located just 200m* from the upcoming Parkville train station, providing unrivalled connectivity to the CBD and surrounding suburbs.
*Approximately
STCA: Subject to Council Approval
7-Eleven Royal Melbourne is For Sale by International Expressions of Interest Closing Friday 8 March 2024 at 12pm (AEDT)
To receive further information or to arrange an inspection please contact the exclusive sale agents below.
Cushman & Wakefield
Oliver Hay | +61 419 528 540
Daniel Wolman | +61 412 957 839
Leon Ma | +61 417 070 725
Alexander Leggo | +61 432 053 747
JLL
Stuart Taylor | +61 402 319 698
Jesse Radisich | +61 402 085 702
Jarrod Herscu | +61 418 155 062
MingXuan Li | +61 498 688 998
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Key details
Property type:
Commercial Land
Block Size:
1003 m²*
Other Details
Plan:
CP166881
Legal description:
CP166881
Maps and area information
Block information
Block size: 1003m² (approx)
Legal description: CP166881
Measurements are estimates only and based on data provided under licence from
© PSMA Australia 2024.
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SummaryMedian sales
Average Age
32 years
Population
14,953
Listing ID: 182277599. This listing has been viewed 2 times. It was first displayed on 07/02/2024 and last updated on 09/05/2024.
Allhomes acknowledges the Ngunnawal people, traditional custodians of the lands where Allhomes is situated. We wish to acknowledge and respect their continuing culture and the contribution they make to the life of Canberra and the region. We also acknowledge all other First Nations Peoples on whose lands we work.
"With open hearts and minds, together we grow." artwork by David Williams of Gilimbaa.