297A High St Street 1,399 SF Retail Building Ashburton, VIC 3147 $870,600 ($622.16/SF) 4.29% Cap Rate

297A High Street, Ashburton represents a rare opportunity to acquire a securely leased retail investment in Melbourne’s sought-after inner-east. The property is anchored by Australia Post, a government-backed national tenant, ensuring a stable and defensive income stream. With over 12 years of continuous occupation, the tenancy underscores long-term reliability and essential service demand.
The asset generates a current net income of $51,500 per annum plus outgoings and GST, with fixed 3% annual increases and a scheduled uplift to $53,045 in September 2027. A recently executed Deed of Variation introduces an additional two-year option, further enhancing lease continuity and income security for investors.
Strategically positioned within an established retail strip just 200 meters from Ashburton Station, the property benefits from strong pedestrian activity and excellent local amenity. Located within a designated Train and Tram Activity Centre and zoned Commercial 1, the site offers future development flexibility and long-term upside potential (STCA). This is a set-and-forget investment combining immediate income with structured growth in a proven location.