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31 High St 1,507 SF Retail Building Glen Iris, VIC 3146 For Sale
Investment Highlights
- Land area of approximately 225 square meters with a single-level retail building of around 140 square meters.
- Located on High Street with frontage exposure and vehicular accessibility from both primary frontage and rear laneway.
- Proximity to major arterials, including Monash Freeway and Warrigal Road, providing regional connectivity.
- Zoned Commercial 1, permitting various business and redevelopment uses within planning guidelines.
- Glen Iris Railway Station at roughly 676 meters away.
- Surrounding uses include established residential neighborhoods and supporting retail nodes.
Executive Summary
31 High Street Glen Iris presents an outstanding opportunity to acquire a securely leased freehold property set within Melbourne’s sought-after eastern corridor. This fully tenanted retail asset is positioned on a prominent main road location with convenient access to Monash Freeway and Warrigal Road, making it ideal for future mixed-use development potential.
The property occupies a 225 m² landholding and offers a well-configured 140 m² retail space currently operating as a vibrant hospitality venue. It benefits from front and rear lane access, high exposure along a key arterial, and an extensive commercial kitchen fit-out that enhances its leasing appeal.
A long-standing lease to Izakaya Chouchou generates an annual income of $62,400 plus GST and outgoings, supported by 4% annual increases and two further terms of three years. Zoned Commercial 1, the site provides favorable conditions for flexible redevelopment options in the future.
Situated within immediate proximity to Glen Iris Train Station and set among established residential neighborhoods and retail amenities, the property offers sustained income security today with upside for long-term investors and developers.
The property occupies a 225 m² landholding and offers a well-configured 140 m² retail space currently operating as a vibrant hospitality venue. It benefits from front and rear lane access, high exposure along a key arterial, and an extensive commercial kitchen fit-out that enhances its leasing appeal.
A long-standing lease to Izakaya Chouchou generates an annual income of $62,400 plus GST and outgoings, supported by 4% annual increases and two further terms of three years. Zoned Commercial 1, the site provides favorable conditions for flexible redevelopment options in the future.
Situated within immediate proximity to Glen Iris Train Station and set among established residential neighborhoods and retail amenities, the property offers sustained income security today with upside for long-term investors and developers.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
1,507 SF
Building Class
C
Tenancy
Single
Building Height
1 Story
Building FAR
0.62
Lot Size
0.06 AC
Frontage
18’ on High St
Amenities
- Signage
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