12 Beatty Avenue & 1052 High Street, Armadale VIC 3143
Stonebridge have brought to market a portfolio of leased investments in the Blue-Chip suburb of Armadale.
The portfolio, set to be auctioned on the 18th of August , has been held in the same family for over 40 years, and comprises some of Victoria’s most desirable retail properties on the well-known Beatty Ave & High Street precincts.
12 Beatty Ave, Armadale, directly adjacent the Armadale train station, will be offered with a new 5-year lease to longstanding tenant Lu La Belle Studio.
Leased Armadale investments under $1m rarely come to market, we see the property being well suited to groups looking for their first commercial investment, or investors looking for better returns than what is offered through the likes of an apartment or residential property.
The jewel in the portfolio is the Dion Lee building on Melbourne’s famous High Street retail strip, regarded as the home of international fashion and surrounded by some of Melbourne’s elite suburbs including Toorak and Malvern.
Located at 1052 High Street, Armadale, Dion Lee is in good company with national retailers including Country Road, Mecca, Scanlan Theodore & Aesop moments away.
High St, Armadale is one of Australia’s most tightly held retail strips with significant demand from both Australian and international fashion retailers. Its success has been driven largely by the significant wealth of neighbouring suburbs Toorak, Malvern & Armadale.
Dion Lee occupies the High St building on a 5-year lease, with no further options from 2026.
The flexibility of the lease, with the potential to occupy from 2026, will provide an opportunity for occupiers looking to break into the affluent precinct. However, we recognise that the bulk of the interest will come from investors, who appreciate the quality of the covenant (Dion Lee), location and potential for medium term rental growth.
Dion Lee is one of Australia’s international fashion success stories, originally established in Sydney and now a permanent fixture in New York and other fashion capitals across the world – Australia is home to eight flagship stores.
The estate also offloaded a row of shops on Glenferrie Road, Malvern late last year. The 5 individually titled freeholds, located at 255-263 Glenferrie Road, Malvern, transacted to a locally based group for $7,750,000 reflecting a passing yield of 2.64%.
The divestment of the estate is being handled by Stonebridge’s Nic Hage, Rorey James & Sarah Xi.