INFORMATION MEMORANDUM

329 High Street, Kew

Gray & Johnson (Melbourne) Pty Ltd Level 9, 30 Collins Street, Melbourne, Victoria, 3000 Telephone: (03) 9654 3022 Facsimile: (03) 9654 2001

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TABLE OF CONTENTS 1. Executive Summary 2. Introduction 3. Property Description 4. Locational Attributes 5. Tenancy Particulars 6. Terms of Sale 7. Disclaimer

APPENDICES 1. Marketing Brochure 2. Photographs 3. Plan of Subdivision 4. Zoning Particulars

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1.0 EXECUTIVE SUMMARY Property Address: 329 High Street, Kew

Location: The property is ideally located fronting High Street,

between Cobden and Derby Streets. It is

strategically positioned in the heart of High Street’s

specialty retail precinct and enjoys excellent

exposure.

It also enjoys excellent access to a vast array of

amenities including close proximity to Kew Junction,

easy access to the Eastern Freeway and the tram

and bus virtually at the front door.

Building Area: 133m2 approx.

Building Status: The property is being offered for sale subject to the

current lease to Peter Chan trading as Penny Henny

BBQ Chicken.

The first floor apartment is currently vacant.

Method of Sale: Public Auction on-site Wednesday 9th September @

1.00 pm.

Terms of Sale: A deposit of 10% of the purchase price payable on

the signing of the Contract of Sale and the balance

of the purchase monies payable sixty (60) days

thereafter.

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2.0 INTRODUCTION

GrayJohnson are delighted to offer for sale this high calibre retail investment in

one of Melbourne’s premier inner eastern suburbs.

329 High Street provides an exceptional opportunity for an investor to acquire a

risk-free retail investment.

The property features the following attributes:

• Prominently positioned in established retail precinct;

• Two distinct potential income streams;

• Well-presented ground floor retail – securely-leased;

• Functional 1-2 bedroom apartment – separate entry; and

• Handy location – close to major arterial networks including the Eastern

Freeway and easy access to public transport.

We strongly recommend your consideration of this outstanding investment

opportunity.

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3.0 PROPERTY DESCRIPTION

The subject property consists of an impressive retail premises on the ground

floor together with a well-presented bedroom apartment on the first floor. The

building consists of 133m2 approximately with separate basement parking for 4

vehicles. The carparking is positioned in the new residential development

directly behind the subject property.

The retail component of the property is leased to a long standing food operator

and comprises of a retail servery area and back of house commercial kitchen.

The first floor residential apartment consists of ground floor secure entry,

spacious kitchen/meals area, 1-2 bedrooms and bathroom facilities. The

property has excellent natural light throughout.

Frontage: 5.3 metres approx.

Building Area Breakdown

Ground Floor : 66m2 approx

First Floor : 67m2 approx

Total : 133m2 approx

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Zoning

Pursuant to the provisions of the City of Boroondara Planning Scheme, the

property is included within a “Commercial 1” zone.

This zoning encourages the implementation of the State Planning Policy

Framework and the Local Planning Policy Framework, including the Municipal

Strategic Statement and local planning policies.

To create vibrant mixed use commercial centres for retail, office, business,

entertainment and community uses.

To provide for residential uses at densities complementary to the role and scale

of the commercial centre.

Further information is provided in Appendix 4 of this report.

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4.0 LOCATIONAL ATTRIBUTES

The subject property is ideally located, being positioned in the heart of High

Street’s sought-after commercial and retail precinct. It is positioned on the

northern side of High Street, between Cobden and Derby Streets.

The property has excellent access to other major arterials including Cotham

Road, Glenferrie Road and the Eastern Freeway. It also has easy access to

public transport including to tram and bus services that are virtually at the front

door.

The area provides a diverse mix of commercial and residential uses and is

undergoing further residential apartment development along the High Street

corridor. High profile neighbours include:

- Dan Murphy’s

- Woolworths

- Commonwealth Bank of Australia, NAB and ANZ

- McDonalds Restaurant

- Toscano’s Grocery

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5.0 TENANCY PARTICULARS

Address : Ground floor, 329 High Street, Kew

Tenancy Name : Peter Chan

Guarantor : Kate Chan

Rental : $55,395 pa + GST

Lease Term : Five (5) years

Option : Five (5) years + Five (5) years + Five (5) years

Lease Commencement : 1 February 2013

Reviews : Annual 4% increases, to market at the option

Outgoings : Payable by the Tenant

Bond : $16,255.97 Address : First Floor, 329 High Street, Kew

Tenancy Name : Vacant

Rental : Rental Guarantee of $15,600 pa*

Lease Term : One (1) year

Option : Nil

Lease Commencement : From Settlement

Reviews : Nil

Outgoings : Nil

*Conditions apply

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We outline various comparable sales for your attention:

ADDRESS RENTAL (pa)

PRICE YIELD COMMENTS

183 High St, Kew $60,600 $4,525,000 4.4% As-new investment

freehold adjacent to

Woolworths in the

heart of Kew Junction

shopping centre.

Tenancy 1 is leased

to Bank of Melbourne.

Tenancy 2 is leased

to Bendigo Bank.

246-248 High St, Kew $58,406 $1,400,000 4.15% Located in the heart of

Kew shopping village.

Prominent double-

storey premises. 2

street frontages.

813 Glenferrie Rd,

Hawthorn

$40,144 $1,275,000 3.25% Retail investment

located in the heart of

Hawthorn in the highly

sought-after

Glenferrie Road retail

strip.

330-332 High St, Kew $61,200 $1,665,000 3.68% High profile location in

one of Melbourne’s

premier retail

precincts. Close to

Kew Junction

shopping precinct.

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6.0 TERMS OF SALE

A deposit of 10% of the purchase price payable on the signing of the Contract of

Sale and the balance of the purchase monies payable in sixty (60) days.

For any further information or an appointment to view the property, please

contact:

Rory White Matt Hoath

0439 655 504 0418 543 714

rwhite@grayjohnson.com.au mhoath@grayjohnson.com.au

Level 9, 30 Collins Street, Melbourne

Phone : 9654 3022

Fax : 9654 2001

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7.0 DISCLAIMER

This Property Report has been prepared by Gray and Johnson (Melbourne) Pty

Limited (ACN 105 127 142) solely for the information of potential purchasers to

assist them in deciding whether they are sufficiently interested in the property.

The information does not constitute all or any part of an offer or Contract of Sale

and is intended only as a guide.

The information contained in this report has been prepared in good faith and

with due care by Gray and Johnson (Melbourne) Pty Limited. Any projections

contained in the report therefore represent best estimates only and may be

based on assumptions, which, while reasonable, may not be correct.

Potential investors should not rely on any material contained in this report as a

statement or representation of fact but should satisfy themselves as to its

correctness by such independent investigations as they or their legal and

financial advisers see fit.

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APPENDIX 1.0

MARKETING BROCHURE

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APPENDIX 2.0

PHOTOGRAPHS

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EXTERNAL

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INTERNAL

Ground

17

First Floor

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APPENDIX 3.0

PLAN OF SUBDIVISION

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APPENDIX 4.0

ZONING PARTICULARS

Property Report from www.land.vic.gov.au on 28 August 2015 10:10 AM

Address: 329 HIGH STREET KEW 3101 Lot / Plan: Lot 3 LP61929 SPI (Standard Parcel Identifier): 3\LP61929 Local Government (Council): BOROONDARA Council Property Number: More than one - not listed. Directory Reference: Melway 45 D5 Note: There are 4 properties identified for this site.

These can include units (or car spaces), shops, or part or whole floors of a building.Dimensions for these individual properties are generally not available.

This property is not in a designated bushfire prone area.No special bushfire construction requirements apply. Planning provisions may apply.Further information about the building control system and building in bushfire prone areas can be found in the Building Commission section of the Victorian Building Authority website www.vba.vic.gov.au

Parcel DetailsLot/Plan or Crown Description SPILot 3 LP61929 3\LP61929

State ElectoratesLegislative Council: SOUTHERN METROPOLITAN Legislative Assembly: KEW

UtilitiesRural Water Business: Southern Rural Water Metro Water Business: Yarra Valley Water Ltd Melbourne Water: inside drainage boundary Power Distributor: CITIPOWER (Information about choosing an electricity retailer)

Planning Zone SummaryPlanning Zone: COMMERCIAL 1 ZONE (C1Z)

SCHEDULE TO THE COMMERCIAL 1 ZONE Planning Overlays: HERITAGE OVERLAY (HO)

HERITAGE OVERLAY SCHEDULE (HO520)PARKING OVERLAY (PO)PARKING OVERLAY - PRECINCT 1 SCHEDULE (PO1)

Further Planning Information

Planning scheme data last updated on 27 August 2015.

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A planning scheme sets out policies and requirements for the use, development and protection of land.This report provides information about the zone and overlay provisions that apply to the selected land. Information about the State, local, particular and general provisions of the local planning scheme that may affect the use of the land can be obtained by contacting the local council or by visiting Planning Schemes Online

This report is NOT a Planning Certificate issued pursuant to Section 199 of the Planning & Environment Act 1987. It does not include information about exhibited planning scheme amendments, or zonings that may abut the land.To obtain a Planning Certificate go to Titles and Property Certificates

The Planning Property Report includes separate maps of zones and overlays

For details of surrounding properties, use this service to get the Reports for properties of interest

To view planning zones, overlay and heritage information in an interactive format visit Planning Maps Online

For other information about planning in Victoria visit www.delwp.vic.gov.au/planning

Area MapArea Map

Copyright © - State Government of VictoriaDisclaimer : This content is provided for information purposes only. No claim is made as to the accuracy or authenticity of the content. The Victorian Government does not accept any liability to any person for the information provided. Read the full disclaimer at www.land.vic.gov.au/home/copyright-and-disclaimer

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