VIC Retail Office

Discussion in 'Property Analysis' started by kmrr, 30th Aug, 2021.

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  1. kmrr

    kmrr Well-Known Member

    Joined:
    29th Jun, 2015
    Posts:
    267
    Location:
    Melbourne
    There is a First floor (the reception is on GF) office space I have identified located on a bustling high st in a 5km radius of Melbourne CBD.

    This premises ticks a lot of boxes and I believe it would appeal to many small professional business however there is 1 bigger issue I have identified and i am trying to gauge how big an issue it is.

    There are no onsite car parks.

    My understanding is that local business can apply for a business parking permit ($150pa) and utilise the carpark 60m down the road.

    If you were a small professional business, eg accountant, conveyancer, law firm, how much of a deterrent would this be? the site is well serviced by trams and 2x train stations 200+600 metres away in either direction. Street frontage is also limited however I don't believe the type of tenant that would occupy this space is really looking for that many walk ins. what do you think?

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