421 Nepean Highway,
Chelsea, VIC 3196

GormanKelly is pleased to offer 421 Nepean Highway, Chelsea for sale by Auction.

This rare offering provides investors and/or developers with the opportunity to secure a refurbished and recently leased retail property located in a prime position within the heart of Chelsea in bayside Melbourne.

We believe the most outstanding aspects of this property include:

- Fully leased and currently returning $105,000 per annum net approx.
- New 5+5+5+5 year lease with annual CPI reviews and market review at option.
- Wide retail frontage with high exposure to Nepean Highway & rear Woolworths carpark;
- Recently refurbished retail building;
- Significant land holding of 488 square metres approx with rear access and zoned Business 1 providing long term redevelopment upside;
- Excellent position within tightly held local retail strip anchored by a recently developed Woolworths Supermarket and Chelsea Beach Arcade, together with Coffee Club, ANZ Bank and Westpac Bank,
- Train station located opposite with Eastlink and the Mornington Peninsula Freeway also located close by.

The property is situated on the western side of Nepean Highway in the heart of busy Chelsea and occupies a high exposure location with the benefit of rear access via the Woolworths Carpark and is also located within 150 metres of the beach.

The property is situated amongst other major tenants and recent developments including the recently completed Woolworths Supermarket to the rear, Chelsea Beach Arcade, ANZ Bank, Westpac Bank, The Coffee Club and Bakers Delight.

Ample carparking is provided on Nepean Highway together with a large public carpark to the rear of the property. Chelsea Train Station is located opposite the property on Nepean Highway and regular bus services also operate on Nepean Highway.