A two-level property on Mentone Parade, south east of Melbourne's CBD, has been purchased by a local general practitioner for his own occupancy.

Previously leased for many years by Westpac Bank, the property has a former banking chamber at street level and comes with an executive office above.

While the bank has vacated the property, its lease remains in place until December this year at a current annual rental rate of $116, 186 net plus GST.

At a glance:

• A freehold property at 115 Mentone Parade has been sold for $2.1 million through Rory White of Gray Johnson.
• The site area is 495 square metres, of which the building area is 325 square metres, inclusive of the executive office area of 72 square metres on the first-floor level.
• The property was previously occupied by Westpac Bank, whose lease expires in December.

The freehold property occupies a central position in the Mentone Parade shopping strip and abuts a Coles Supermarket.

With a street frontage of 9.2 metres, the property also benefits from rear laneway access providing on the property car parking for six vehicles.

Source: Gray Johnson

The site area is 495 square metres, of which the building area is 325 square metres, inclusive of the executive office area of 72 square metres on the first-floor level.

Gray Johnson selling agent Rory White said the property's central location and street presence made it ideal for a multitude of uses and occupier potentials from retail to professional services.

“On one side the neighbour is a prominent retail butchery while on the other side is the local Hocking Stuart real estate office," he said.

“The purchaser will benefit from the remainder of the Westpac lease rental term while the settlement is on a ninety-day basis.”

For more information, email or phone Rory White via the details provided below.

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