A two-storey retail strip property in the Melbourne suburb of Camberwell is expected to receive interest retail, medical and development buyers after being listed for sale.

CBRE's Melbourne’s Retail Strip Investments team of Rorey James, JJ Heng, Sandro Peluso and Lewis Tong have been appointed to manage an International Expressions of Interest campaign, in conjunction with Phillip Almeida of Performance Property Advisory. 

At a glance:

• A two-storey retail strip property at 620-624 Burke Road, Camberwell has been listed for sale.
• CBRE's  Retail Strip Investments team of Rorey James, JJ Heng, Sandro Peluso and Lewis Tong have been appointed to manage an International Expressions of Interest campaign, in conjunction with Phillip Almeida of Performance Property Advisory. 
• The 828 square metre property is currently leased to PharmaSave, generating annual net rental revenue of $617,733 (after land tax) with potential to generate additional income from 262 square metres of unused space. 

Situated at 620-624 Burke Road, the property was once occupied by Australian Unity and has since been a medical associated building for more than two decades.

The site’s current tenant has no further lease options, opening up the opportunity for developers, owner-occupiers and investors to participate in the campaign.

The property, which presents one of the largest landholdings within the retail strip’s super prime section, features a ten-metre frontage to Burke Street and has rear access to a large council car park.

CBRE’s Mr Heng noted that three of CBRE’s four recent Camberwell transactions have involved international Asian purchasers, suggesting the trend is likely to continue with the sale of 620-624 Burke Road.

The 828 square metre property is currently leased to PharmaSave, generating annual net rental revenue of $617,733 (after land tax) with potential to generate additional income from 262 square metres of unused space. 

The property at 620-624 Burke Road will be offered by way of International Expressions of Interest closing Wednesday, August 28, 2019. 

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