116 Murphy Street Richmond

Sale

THE NEW GOLD STANDARD!!

For years, retail properties were considered the best – they commanded the best rents, the best tenants and the best returns.

There’s been a few pretenders since… food and beverage had their shot, offices took a crack… but they all fell short, for simple reasons… Most notably, there was a never ending increase in their supply, due to people trying to capitalize on the market – combined with reduced demand, due to fluctuating market conditions.

There is another option, that has no drawbacks….  City Fringe Industrial!

Featuring…

  • Limited and decreasing supply
  • Ever increasing demand
  • Longer more secure leases, or shorter leases, at your discretion – there will be potential tenants lining up on the street
  • Minimal time between tenants i.e. minimal loss of rent
  • Minimal maintenance costs
  • No legislative rent free obligations i.e. Pandemic Proof
  • Ever increasing rents, while retail is significantly down and offices are roughly back to where they were, 10 years ago
  • Substantial land holdings
  • Exceptional commercial (office) development opportunities – with traditionally no residential interface, creating restrictive set backs and excellent height potential
  • Minimal land tax due to Industrial Zone

There are simply no negatives!!

Everyday the supply of industrial city fringe properties is decreasing, with new developments replacing them. Ever heard of a retail property being rezoned to industrial? It doesn’t happen… Ever heard of an industrial property being rezoned to retail?  It’s a daily occurrence.

You can see it yourselves in your everyday lives – how many things do you buy online, compared to before? How many times do you hear in the news, of large, or small, format retail moving more and more into warehouse distribution, with online sales? Who are our biggest retailers? Amazon, Alibaba to name just a few…

Industrial is the new retail… It is the new Gold Standard!

116 Murphy Street is a brilliant, city fringe warehouse, situated on Richmond’s best industrial location. The current lease expires mid next year, with no further options – offering complete flexibility for owner occupiers, investors and developers. Brilliantly located near the Bridge Road and Burnley Street intersection – as well as Victoria Gardens Shopping Center.

Sold subject to existing lease (expiry September 2023).

Site 820m2* – Building 820m2*.

For Sale by Expression of Interest Closing 14 April 2.00pm.

For further information to arrange an inspection, please contact our exclusive sales team.

*Approx.

Jack Teneketzis







Alex Teneketzis