751-753 Burke Road, Camberwell
One of Melbourne’s most famous shopping strips – with a big future ahead – is set for a prime investment auction later this month.
The home of national retailer Mountfords Shoes, at 751-753 Burke Road, Camberwell, is being marketed through Fitzroys agents David Bourke, Chris James and Ben Liu, with the auction set for Thursday, 26 March at 1pm on-site.
The property comprises a two-level building encompassing 420sqm with a ground-level showroom, upper level storage and on-site car parking, and a dominant 12.2m frontage opposite Burke Road’s main pedestrian crossing in a prime position.
Surrounding the property are major national and local retailers, trading banks, three supermarkets in Woolworths, Coles and Aldi, and key anchors including Kmart, Officeworks, Dan Murphy’s, JB Hi‐Fi, and the Camberwell Fresh Food Market.
The 751-753 Burke Road property is being offered with a renewed lease to leading national footwear retailer Munro Footwear Group, generating $315,000 plus outgoings and GST. Munro Footwear Group is an Australia-operated business established in 1962 and today employs over 2,000 staff nationally.
“This is a flagship offering leased to a longstanding national tenant, in the prime of one of Melbourne’s most famous shopping strips, and which has a big future ahead of it,” Bourke said.
“Burke Road, Camberwell services one of Melbourne’s most affluent and established residential catchments, as well as a growing office market with recognised local and international businesses that is attracting more residents who want to live, work and play in one of Melbourne’s renowned lifestyle precincts.”
“Further Burke Road and Camberwell Junction is one of the major key tram, train, jobs and services hubs designated by the Victorian Government as an Activity Centre, set to encourage the development of residential and mixed-use buildings of up to 12 levels on and around the strip over the coming decades.
“The Activity Centre initiative is projected to provide a huge boost to Burke Road, Camberwell over the long-term, adding to the immediate catchment and further promoting trade and activity.”
James said ongoing development around the strips accommodating the city’s strong population growth has been a key driver of their admirable performance in recent years.
Liu noted the accessibility of Burke Road and Camberwell Junction.
“One of the key drivers of a successful shopping strip is easy accessibility,” he said.
“This location offers excellent connectivity through Camberwell train station, multiple tram routes to and from the CBD and the surrounding suburbs, and abundant public parking.”
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