It wasn’t long ago that Swan Street was seen as Bridge Road’s lesser. National & Multinational tenants were unheard of – now they line the Street. This change wasn’t by accident… there was a reason for this change… the same type of reason that is currently underway on the top of Bridge Road.
The removal of Dimmeys was Swan Street’s catalyst. Dimmeys sold bulk items at discounted prices – this will only attract consumers with similar price expectations. Once removed, Swan Street prospered into arguably, the best lifestyle strip, in Melbourne’s city fringe.
Bridge Road’s catalyst is here… A series of evolutionary developments, combined with exceptionally high demand for commercial developments on Richmond Hill.
Some of these developments include.
Richmond Plaza Development (Coles) – In planning
Richmond Place Development (Citiplan) – Now complete
Dux Richmond Hill Development (Little Projects) – Now complete
Richmond Hill Development (Poly) – In planning
Lanbruk Development (Citiplan) – In construction
Bridge Road Office Development – Currently marketed for lease
Claudia Development – In construction
These are the agents for change – brand new shops, brand new apartments and brand new offices. These development will introduce a higher price point, attracting higher quality tenants and high quality passing traffic. 196 & 198 Bridge Road is perfectly positioned to take advantage of this.
The leases are short term, you can capitalise on this by developing today, or add value with improvements to further increase rent potential. The current rents are undervalued, there is rent growth potential even as these shops sit today.
Owner occupy, invest, land bank, develop… There’s no wrong answer here!!
What we are offering is an exceptional opportunity. Two ground floor shops, a first floor residence/office with rear access and parking, in a highly desirable precinct of Bridge Road that is undergoing a climatic change.
For Sale by Negotiation.
For all property enquiries or to arrange an inspection, please contact our sales team.