City Trading And Parking
The Age
Saturday December 9, 2000
A FOUR-LEVEL office building at 174 Queen Street, Melbourne, is for private sale through Colliers Jardine (96298888) whose invitation for offers on the property close on December 18.
It is expected to fetch around $3 million.
Located on the eastern side of Queen Street, between Bourke and Lonsdale streets, the recently refurbished building includes retail and office accommodation, with basement parking for nine cars and a 10 square metre storage area. Situated on a 340 square metre site, the building has 9.55 metres frontage to Queen Street and access from a rear right-of-way provides entry to the parking bays.
Fully let at an estimated net annual income of $231,664, the building has a net lettable area of 1019 square metres.
The property has been registered for subdivision into three different titles, each with separate parking bays.
Selling agent Martin O'Sullivan said the property had potential for substantial rental growth, depreciation benefits were available, and that the subdivision plan would allow flexibility for future use with further sell down an option.
ALLARD and Shelton (96543222) are seeking expressions of interest for the lease and redevelopment of the former Port of Melbourne Authority workshops on the corner of Ann Street and Nelson Place, Williamstown.
Part of the property, which includes the Buoy Jetty and Workshops Jetty, is listed on the Victorian Heritage register due to its role as the main shipbuilding and repair yard during Melbourne's early development.
Leasing agent Fred Nucara said interest was sought from suitably qualified and experienced organisations to redevelop the property as a maritime heritage seaport.
He said the redevelopment, which was being offered on leasehold basis of 21 years under the Crown Land (Reserves) Act, had already undergone a thorough consultation process with the Williamstown community.
Expressions of interest close on Thursday at 3pm.
© 2000 The Age
