Trophy building with value-add potential in Melbourne’s Hawthorn hits the market30 January 2023
Colliers agents Ben Baines and Alex Browne have exclusively been appointed to bring a trophy-style commercial asset in Hawthorn to market on behalf of owner occupier Marco Fabrics, who has been operating the premises for the past 30 years.
The asset comprises two individual land parcels with a 1,090 sqm two-storey building situated on a 668 sqm Commercial 1 Zoned land plus a separate 369 sqm land parcel to the rear, which is utilised as a car park and zoned General Residential Zone 3.
Colliers’ Director of Investment Services, Ben Baines, said the property has the flexibility to be sold as vacant possession or with short-term holding income, providing an excellent opportunity to owner-occupiers, investors and developers.
“The potential of these two sites spark supreme creativity with the ability to occupy the existing premises, refurbish and lease out and/or develop a commercial office, residential or hotel (STCA) on the larger block and residential townhouses on the smaller parcel,” said Mr Baines.
“Located in the heart of Auburn Village, one of Melbourne’s most popular and long-standing retail villages, just 6 km from the CBD, the asset comes with lots of potential and endless possibilities,” Mr Baines added.
The property benefits from access to main roads, including Burwood Road, Glenferrie Road and Monash Freeway, within walking distance to Auburn train station, Swinburn University and local hospitality and retail.
“Melbourne’s inner-east, in particular Hawthorn, is historically a tightly held market due to the amenity-rich surrounds and public transport linkage. There have been strong results from owner- occupiers in the area recently, so we expect good interest from them”, Mr Browne concluded.
157 Auburn Road is for sale via an on-site public auction on Friday, 3rd March 2023, at 2.30 pm (AEST).