Golden Mile Large Format Retail Investment For Sale by Stonebridge Property Group

24 May 2023

Stonebridge Property Group has been exclusively appointed to sell the 410-422 Whitehorse Road, Nunawading on behalf of transaction advisors Charter Keck Cramer. 410-422 Whitehorse Road is a highly secure and land rich investment along the illustrious Whitehorse Road Golden Mile retail precinct.

Underpinned by a longstanding lease to national tenant, Amart, the Property presents an extremely rare opportunity to become part of one of Melbourne’s premier large format retail destinations.

Stonebridge’s National Partner Justin Dowers said: “Offerings of this size almost never come up on the Golden Mile. To be able to own a 1.73-hectare parcel of land in such a prestigious Large Format Retail precinct is an outstanding opportunity”.

“There are significant barriers to entry for Large Format Retail (LFR) development in Metropolitan Melbourne due to the high value of the land and growing costs of construction. This underlying factor, combined with a growing population and robust economy will strengthen the fundamentals of this asset class.”

Situated on the Whitehorse Road Golden Mile, 18 km* to the east of Melbourne CBD, the Property is optimally positioned alongside a critical mass of national retailers including Bunnings, JB Hi-Fi, Harvey Norman and Officeworks.

The Property resides on a highly prominent 17,330 sqm landholding with 141 m* of frontage to Whitehorse Road providing strong exposure to 48,000 vehicles daily1. The site is highly connected being located between the major transport arterials of Eastlink, Eastern Freeway and Springvale Road and being 500 m* from Nunawading Station.

Stonebridge Asia Practice Partner Kevin Tong said: We expect the Property to draw considerable interest from a range of Asian capital given its location in Melbourne’s East. We are seeing Asian investors being drawn to secure real estate in prime locations which 410-422 Whitehorse Road presents.”

Stonebridge Property Group’s Justin Dowers and Kevin Tong will be offering 410-422 Whitehorse Road, Nunawading via an expressions of interest campaign closing 15th June.