www.allardshelton.com.au

PROPERTY INFORMATION REPORTBAYSIDE’S BEST

C o r n e r A s l i n g S t r e e t & M a r t i n S t r e e t , B r i g h t o n

TWO OUTSTANDING DEVELOPMENT OPPORTUNITIES with (SHORT TERM) INCOME

Buy One or Buy Both!

EXPRESSIONS OF INTEREST

CLOSING FRIDAY 16 NOVEMBER 2012 AT 2: 00pm

at the office o f a l lard she lton

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TABLE OF CONTENTS

PAGE

1. EXECUTIVE SUMMARY.....................................................................3

2. PROPERTY DESCRIPTION.................................................................4

2.1 LOCATION.........................................................................................................4

2.2 TOWN PLANNING.............................................................................................4

2.3 LEGAL DESCRIPTION........................................................................................4

2.4 SITE DESCRIPTION...........................................................................................5

2.5 BUILDING DESCRIPTION...................................................................................5

3. TENANCY DETAILS..........................................................................8

4. INVESTMENT CRITERIA....................................................................9

5. TERMS OF SALE.............................................................................10

6. DISCLAIMER..................................................................................11

APPENDIX A: CERTIFICATES OF TITLE

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1. EXECUTIVE SUMMARYProperties: Opportunity 1:

79 Asling Street, Brighton; and

81 Asling Street & 122-124 Martin Street, Brighton

Opportunity 2:

116 Martin Street, Brighton; and

118-120 Martin Street, Brighton

Location: The subject properties are located on the south west corner of Martin Street and Asling Street, in Brighton.

The properties are surrounded by a mixture of commercial and residential properties and are within close proximity to a number of prominent businesses and retailers.

Description: The properties are being offered for sale as two separate opportunities as follows;

Opportunity 1: 79 Asling Street & 81 Asling Street & 122-124 Martin Street, Brighton

Opportunity 2: 116 Martin Street & 118-120 Martin Street, Brighton

The opportunities are available to purchase as a whole or separately.

Total Building Area: 2,198 square metres (approx.)

Total Site Area: 3,050 square metres (approx.)

Total Income: $352,137.11 per annum (approx.)

Terms of Sale: The properties are being offered for sale as a whole or separately, and are being sold by Expressions of Interest, subject to existing Lease Agreements, on the following terms:

Closing Date:

Where:

Deposit:

Friday 16 November 2012 @ 2:00pm

The office of Allard Shelton

1% of the purchase price payable upon submission of Expression of Interest.

9% of the purchase price payable on

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Balance: acceptance and signing of the Contract of Sale.

To be negotiated.

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2. PROPERTY DESCRIPTION

The properties are situated on the corner of Asling Street and Martin Street, Brighton and are best described as follows:

2.1 Location

The subject properties are located on the south west corner of Martin Street and Asling Street, in Brighton.

The properties are surrounded by a mixture of commercial and residential properties and are within close proximity to a number of prominent businesses and retailers, including;

House of Bread & Pastries

Bayside Hearing Clinic

Gardenvale Meat Supply

Guardian Pharmacy

7 Eleven convenience store

Martin Street Wellbeing Clinic

Nicholls Fashion Centre

Olives Restaurant

Foodworks Supermarket

The property further benefits from access to abundant public car parking amenities.

Brighton is located approximately 10 kilometres south-east of Melbourne’s CBD, and is well serviced by a number of main road arterials including; the Nepean Highway, Gardenvale Road and North Road.

Additionally, the properties are well serviced by public transport facilities, most notably, Gardenvale train station, which is located a mere 220 metres from the subject properties, and is on the Sandringham railway line.

2.2 Town Planning

The properties area situated within a Business 2 Zone under the City of Bayside Planning Scheme.

The main purpose of a Business 2 Zoning is to:

To implement the State Planning Policy Framework and the Local Planning Policy Framework, including the Municipal Strategic Statement and local planning policies.

To encourage the development of offices and associated commercial uses.

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2.3 Legal Description

The land is legally described as follows;

Description Volume FolioOPPORTUNITY 1:

79 Asling Street Lots 1 & 2 on Title Plan 336794V 10983 581

81 Asling St & 122-124 Martin St Lot 1 on Title Plan 592105R 1853 451

OPPORTUNITY 2:116 Martin Street Lot 1 on Title Plan 426826J 6429 610

118-120 Martin Street Lot 58 on Plan of Subdivision 899 7028 416

A copy of the Certificates of Title is provided in Appendix A, for your reference.

2.4 Site Description

The subject properties comprise the following broad dimensions;

Northern Boundary

Eastern Boundary

Southern Boundary

Western Boundary Site Area

OPPORTUNITY 1:79 Asling Street 45.7m* 16.5m* 45.7m* 16.2m* 750sqm*81Asling St & 122-124 Martin St 45.7m* 17.4m* 45.7m* 17.4m* 795.2sqm*

TOTAL SITE AREA 1,545.2sqm*

OPPORTUNITY 2:116 Martin Street 6.1m* 62.5m* 6.1m* 62.5m* 381.2sqm*

118-120 Martin Street 19.5m* 62.5m* 16.5m* 62.5m* 1,123.8sqm*

TOTAL SITE AREA 1,505.0sqm*

*approx.

The two opportunities combined comprise a total site area of 3,050.20 square metres (approx.).

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“These 2 outstanding opportunities in Brighton provide the most exciting development opportunity the market has seen in sometime . . . an extremely rare opportunity in an extremely tightly held ‘blue ribbon’ precinct.”

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2.5 Building Descriptions

2.5.1 Opportunity 1

79 Asl ing Street, Brighton

Comprises single level building with retail frontage to Asling Street of 16.5 metres (approx.), which is currently being utilised as consulting rooms.

The property benefits from laneway access at the rear of the property, as well as undercover car parking at the rear and additional car parking at the front.

The property has a total building area of 486 square metres (approx.).

122-124 Martin Street and 81 Asl ing Street, Brighton

Comprises single level building with retail frontage to Asling Street of 17.4 metres (approx.) and Martin Street of 45.7 metres (approx.).

The property benefits from onsite car parking for approximately 19 cars.

The property has a total building area of 350 square metres (approx.).

81 Asling & 122-124 Martin Streets

81 Asling & 122-124 Martin Streets

79 Asling Street

79 Asling Street

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2.5.2 Opportunity 2

118-120 Martin Street, Brighton

Comprises two level brick building with a large frontage to Martin Street of 19.5 metres (approx.).

The property is currently being utilised as four office/retail suites at the front of the property, and a squash courts at the rear.

The property has a total building area of 1,202 square metres (approx.).

116 Martin Street, Brighton

Comprises single level brick building with retail frontage to Martin Street of 6.1 metres (approx.), which is currently being used as an Opportunity Shop.

The property has a total building area of 178 square metres (approx.).

The two opportunities combined provide a total building area of 2,198.70 square metres (approx.).

116 & 118-120 Martin Streets

118-120 Martin Street

118-120 Martin Street

116 Martin Street

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3. TENANCY DETAILSThe subject properties are currently leased on the following terms and conditions;

OPPORTUNITY 1:LESSEE AREA

(sqm) RENTAL LEASE COMM.

LEASE TERM OPTION REVIEWS

79 Asling Street, Brighton        

Flying Souls Pty Ltd 468.7 $103,000.00 1/03/2011 2 years 2 years 3%, Market at

option122-124 Martin Street & 81 Asling Street, Brighton      

Arsom Pty Ltd* 50.0 $15,168.79 1/07/2009 3 years Not Exercised Overholding

Wickro Pty Ltd* 180.0 $38,109.37 1/08/2012 2 years Nil PredeterminedMs A Caddaye* 120.0 $30,474.59 2/10/2012 3 years Nil 4% per annumTOTAL 350 $83,752.75

COMBINED TOTAL 818.7 $186,752.75

OPPORTUNITY 2:LESSEE AREA

(sqm) RENTAL LEASE COMM.

LEASE TERM OPTION REVIEWS

116 Martin Street, Brighton          Melbourne Anglican Trust Corp.* 178 $22,430.00 1/07/2012 2 years Nil CPI

118-120 Martin Street, Brighton           

David Lindsay* 75.0 $23,920.00 18/10/2012 2 years Nil 4% per annum

John Lombardo 66.0 $19,741.36 15/04/2012 2 years Nil 4% per annum

Shustin Developments Pty Ltd* 60.0 $18,035.00 9/08/2012 2 years Nil 4% per annumBrighton Squash Centre Pty Ltd* 1001.0 $75,258.00 1/07/2012 2 years Nil 5% per annum

Ohh Media Assets Pty Ltd Signage $6,000.00 1/07/2009 3 years 3 years  

TOTAL 1,202 $142,954.36        

COMBINED TOTAL 1,380 $165,384.36

The two opportunities combined provide a total current net income of $352,137.11 per annum.

Please note: Lease documentation for Lessee’s marked with an asterisk (*) are subject to a Demolition Clause. Full copies of the Lease Documentation will be provided upon request.

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4. INVESTMENT CRITERIA

The two opportunities located on the corner of Asling Street & Martin Street, Brighton provide rare and outstanding development potential.

The key benefits of the properties include:

Huge combined frontage of 105 metre (approx.) to Martin and Asling Street’s

Business 2 Zoning

Huge land parcel of 3,050 square metres

Fantastic future development opportunities (STPA)

Great location within a prime inner-city suburb – within 10km of Melbourne’s CBD.

“A great opportunity for developers to benefit from a stable income stream whi lst explor ing the (subject propert ies) many exci t ing opt ions and planning the real isat ion of a momentous Bayside development.”

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5. TERMS OF SALEThe two opportunities on the corner of Asling Street & Martin Street, Brighton are being offered for sale as a whole or separately, by Expressions of Interest, subject to Lease Agreements, on the following terms:

Closing Date: Friday 16 November 2012 @ 2:00pm

Where: The office of Allard Shelton – Level 6, 267 Collins Street, Melbourne

Deposit: 1% of the purchase price is payable upon submission of Expression of Interest

9% of the purchase price is payable of acceptance and signing of the Contract of Sale.

Balance: To be negotiated.

Thank you for your interest in 79 & 81 Asling Street & 116-124 Martin Street, Brighton

For further information or to arrange an immediate inspection, please feel free to contact the following personnel:

JOSEPH WALTON PATRICK BARNES

Business Hours: 9654 3222 Business Hours: 9654 3222

Mobile: 0417 309 347 Mobile: 0417 555 190

joewalton@allardshelton.com.au patbarnes@allardshelton.com.au

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6. DISCLAIMER

Representation of Information

The information contained in this report is published by Allard Shelton Pty Ltd to assist potential purchasers in deciding whether or not they wish to make further enquiries with respect to the property and should not be used for any other purpose.

It is not intended that any of the information contained in this report will constitute any representation or offer by the Vendor or by Allard Shelton Pty Ltd. On contrary, prospective purchasers should obtain their own advice and make their own enquiries to satisfy themselves as to the correctness of the information. In particular all prospective purchasers should check and independently verify all descriptions, dimensions, references to conditions and necessary permissions for use and occupation and any statement concerning profitability or value.

Information in this report which has been provided to Allard Shelton Pty Ltd by others is passed on to prospective purchasers without any steps having been taken to independently verify the information and accordingly Allard Shelton Pty Ltd gives no warranty to its accuracy.

This report is provided to the recipient on a confidential basis and is not to be re-supplied to any other person without the prior written consent of Allard Shelton Pty Ltd.

The content of this report and the contract documents may be varied by subsequent versions. On the day of sale prospective purchasers should check that they are satisfied with all documentation.

Corner As l ing Street & Mart in Street, Br ighton

Appendix ACERTIFICATE OF TITLE

Corner As l ing Street & Mart in Street, Br ighton

79 Asling Street, Brighton

Corner As l ing Street & Mart in Street, Br ighton

Corner As l ing Street & Mart in Street, Br ighton

81 Asling Street & 122-124 Martin Street, Brighton

Corner As l ing Street & Mart in Street, Br ighton

Corner As l ing Street & Mart in Street, Br ighton

116 Martin Street, Brighton

Corner As l ing Street & Mart in Street, Br ighton

Corner As l ing Street & Mart in Street, Br ighton

118-120 Martin Street, Brighton

Corner As l ing Street & Mart in Street, Br ighton