Brand-new ANZ branch with $1.2 million Tenant Paid Fit-Out in Trophy Bayside Location

A brand-new ANZ Branch with a complete $1.2 million* tenant-paid fit-out has been brought to market in Melbourne’s desirable metro bayside area, Hampton East, just 14km* from Melbourne CBD.

The location was hand selected by the ASX top 6 listed company, who recently fitted out the 380sqm* floor area with their award-winning new ‘‘Breathe” concept branch. The property is fully occupied by ANZ Bank on a brand new 4.3 year lease plus two further three year options until 2033, with fixed 4% annual rent increases, returning an attractive net income of $160,000 annually.

The auction campaign for the newly renovated ANZ branch in Hampton East is anticipated to attract interest in excess of $3.2 million and is being managed by Colliers selling agents Tim McIntosh, Yvonne Zhou and Matt Stagg together with Burgess Rawson’s Matthew Write, Beau Coulter and Zomart He.

Beau Coulter, Partner at Burgess Rawson, said, “We are far from abandoning physical branches with modern banks like ANZ having embraced data-driven strategies to carefully select ideal locations for their new branches.”

“A key aspect of this decision-making process is ensuring that the branch location will drive customer footfall and offer a wide range of services, which is why the Hampton East location along Nepean Highway was particularly interesting to ANZ.”

Located on 902-904 Nepean Highway, Hampton East, the asset benefits from high exposure to 64,000 vehicles per day* along Nepean Highway with its 11 metres* dual frontages.

“Banks now target bustling shopping strips for branch locations, a strategic move to increase visibility and accessibility. Placing branches in busy commercial areas makes them easily accessible to existing and potential customers. This strategic placement not only boosts foot traffic but also fosters a sense of convenience, enhancing the overall customer experience,” added Mr Coulter.

The property sits on a highly sought-after Activity Centre Zone 1 land with a height limit of five storeys (17 metres), providing opportunities for future upside (STCA) and strategically located directly opposite Moorabbin train station and within an established and successful retail precinct featuring Subway, Macpac, Chemist Warehouse and Anytime Fitness.

Colliers selling agent Yvonne Zhou said, “Investment opportunities in sought-after locations, secured by leading Australian businesses, continue to drive interest from a broad group of domestic and offshore investors.”

The public auction of 902-904 Nepean Highway, Hampton East, will take place on-site at 12:30pm AEST, Friday 8 September 2023.