378 & 380 Smith Street Collingwood

Sale

THE RESURGENCE OF THE ‘NORTH’!! PART THREE…

The Rise Of The Lifestyle/Food Precinct Has Been Meteoric!! It’s Transformed ‘Unwanted’ Strips Into Melbourne’s Finest!! Insert A Drawcard Retail Tenant… Combine With Edgy, Destination Food Tenants… Enter The Newest Hot Spot!! There Is No Better Example Of This Than The ‘Southern’ End Of Smith Street.

Previously The ‘Northern’ End Of Smith Street Reigned Supreme!! Nike Was The Drawcard & All The Best Retailers Followed… This Precinct Had The Highest Rents, The Lowest Vacancies & The Highest Property Values.

What Came Next? The ‘South’ Was Reborn. The Smith & Co. Development Introduced A Drawcard Tenant i.e. Coles & Destination Food Tenants Made The ‘South’ Their Home – Attracted By The Lower Rents & Future Potential. This Is All About To Change…

The ‘Nike’ Development (416 Smith Street) Was A Positive – It Replaced The ‘Old’ & Declining Retail Drawcard With A ‘New’ & More Relevant One… Dan Murphy’s. However Construction Has Taken Too Long, Causing A Temporary ‘Lull’.

Dan Murphy’s Opening Is Now Imminent… As Is Two More Drawcard Retail Tenants. The First Of The Edgy, Destination Food Tenants Is Open & Thriving!! (Red Sparrow Pizza By Chef Michael Craig). In A Few Short Years, This Precinct Will Be Unrecognisable… Filled With Standout Developments & Destination Food Tenants. Rents Will Rise, Together With Property Values… Welcome To The Resurgence Of The ‘North’!!

378 & 380 Smith Street Is An Iconic, Corner Site With Over A 15 Meter Smith Street Frontage. The Ground Floor Shops Are Leased To Two Multinational Tenants. The First Floor Is Currently Leased As A Residence, With Direct Street Access From Easey Street.

There Is Supreme Flexibility – Invest In A Site That Hasn’t Lost A Day’s Rent Since Our Office Took Over Management In Late 2000… Develop Under The Existing Leases In Late 2019… Add Value/Lank Bank By Converting The First Floor Residence Into An Office, Increasing Rental Income While The ‘North’s’ Resurgence Is Underway… Pick One Or Pick All, There’s No Wrong Answer Here!!

The Rents Are Undervalued – Caused By Establishing Rents During A Temporary ‘Lull’. The Office Market Rent Potential Has Already Increased & Can Be Realised With A First Floor Conversion… The Retail Rents Will Follow Shortly.

With All This In Mind, We Ask You… Do You Want To Buy At Peak Prices With Limited Growth Potential? Or Would You Rather Capitalise On A Temporary Lull, Caused By Reduced Rents & Property Values, Just Prior To A Substantial Uplift?

Enter The Resurgence Of The ‘North’…

For Sale By Negotiation.

Please Contact Agent For Further Details.

Jack Teneketzis







Alex Teneketzis