IM - 165 Fitzroy Street, St Kilda

165 fitzroy streetST KILDA

PRIME DEVELOPMENT OPPORTUNITY IN LANDMARK LOCATION

Strategically located less than 5km fromMelbourne CBD,opposite Albert Park’s lakeside recreationalgrounds & metresfrom the St Kildaforeshore, 165 Fitzroy Streetrepresents a development

opportunity unlike any other.

920M TO BEACH

ETIHAD STADIUM

ST KILDA ROAD

ARTS PRECINCT

ROYAL BOTANICAL GARDENS

FAWKNER PARK

ALBERT PARK

MELBOURNE CBD

QUEENS ROAD

920M TO BEACH

Level 2, 108 Toorak Road South Yarra | Telephone: (03) 9827 1177 | www.castrangilbert.com.au Page 4

Table of ContentsIntroduction 7

Key Features 8

Property Description 12

Title Details 13

Zoning 13

Land Area 13

Tenancy Details 14

Location 19

Market Analysis 20

Terms of Sale 22

Appendix A Certificate of Title

Appendix B Floor Plans

Appendix C Leasing Schedule

Appendix D Land Survey

Appendix E Concept Study

PRINCES STREET

Introduction

Castran Gilbert is pleased to present this unique opportunity to acquire a landmark property in Melbourne’s most celebrated lifestyle destination.

Offering extraordinary development potential and a multitude of opportunities, 165 Fitzroy Street is proudly positioned on St Kilda’s most iconic boulevard that is home to some of Melbourne’s best dining and lifestyle attractions. Fronting Albert Park lake and located only metres from the beach, this superb property is the perfect candidate for residential development (STCA).

The property currently comprises a 4-level building that houses a restaurant, retail shop and the offices of oOh! media and Spinach Advertising. It provides a secure undercover carpark on the Ground Level and large open-air carpark on Level One accessible via a ramp and ROW.

Rarely does such a premium opportunity present itself to the market. Secure a prime investment with solid returns or choose to develop St Kilda’s next residential masterpiece - the possibilities are endless.

Key Features

• PrimeNortherlyaspectwithsweeping,uninterruptedvistastowards Albert Park lake and the CBD that will never be built out.

• Highlysought-afterlocationclosetoAlbertPark,StKildaBeach, NepeanHighway,StKildaRoadofficesandtheCBD.

• Exceptionalpublictransportlinks-tramsatthedoorstepandbuses in the immediate vicinity.

• Idealsizeanddimensionsforresidentialdevelopment-seeattached Concept Study by Artisan Architects & SJB Architects. Refer to Appendix E.

PropertyDescription

The site is approximately 1,488m2 in area, fronts Fitzroy Street and has an abuttal to Little Grey Street to the south. The current building is a four storey office and restaurant building fronting Fitzroy Street with a surfaced car park behind (accessed directly from Little Grey Street) and a small basement carpark accessed via a ramp from Little Grey Street,

It is currently leased at a gross rental of $707,069 per annum plus GST . There is a demolition clause in place, should you wish to develop earlier. Please refer to tenancy details on Page 14 and leasing schedule attached as Appendix C.

Title DetailsTitle Reference VOLUME: 09929 FOLIO: 830 Refer to Appendix A

ZoningIn accordance with the City of Port Phillip Planning Scheme, the property is located within a Business 1 Zone (B1Z).

Land AreaDescription Dimensions (approx.) FitzroyStreet(Northernboundary) 18.29m Western boundary 81.37m Southern boundary 18.29m Eastern boundary 81.37m TOTAL SITE AREA 1488m2

Refer to Appendix A & B

Energy Rating4StarNABERSEnergyRating

Tenancy DetailsA copy of the leasing schedule is attached as Appendix C.

Shop 1, 165 Fitzroy Street

Lessee: De La Jekyll Pty Ltd - Delahyde

Building Area: 70m2

Lease Term: Currently monthly tenancy

Commencement: 01/06/2009

Term/Options: One (1) further term of four (4) years

Current Income: $29,547.36 per annum (excl. GST)

Car Parking: One (1) car space

See Appendix C for Demolition Clause

Shop 2, 165 Fitzroy Street

Lessee: Mahjong Restaurant

Building Area: 350m2

Lease Expiry: 30/06/2017

Term/Options: One (1) further term of five (5) years

Car Parking: Five (5) car spaces

1st Floor, 165 Fitzroy Street

Lessee: oOh! Media Pty Ltd

Term/Options: One (1)further term of five (5) years

Current Income: $174,720 per annum (excl. GST)

Car Parking: Ten (10) car spaces

2nd Floor, 165 Fitzroy Street

Lessee: Spinach Advertising

Term/Options: Nil

Car Parking: Ten (10) car spaces

3rd Floor, 165 Fitzroy Street

Lessee: oOh! Media Pty Ltd

Building Area: 527m2 (excl. balcony)

Term/Options: One (1) further term of five (5) years

CarParking: Nine(9)carspaces

Actual view from Level 3

oOh! media

Spinach Advertising

Open-air carpark (rear of building)

Location

165 Fitzroy Street situated in the vibrant Bayside suburb of St Kilda, less than 5 kilometres from Melbourne CBD and near the intersection of Fitzroy Street and Lakeside Drive/Princes Street. Nearbyattractionsandamenitiesinclude:

• Trams 3a & 16 at the door step

• Albert Park Lake and Golf Course

• Fitzroy Street restaurants and cafes

• St Kilda Beach

• St Kilda Sea Baths

• St Kilda Marina

• Melbourne Sports and Aquatic Centre

• Albert Park Cricket Ground

• Luna Park

• EsplanadeHotel

• Prince of Wales

• Junction Oval

• Acland Street shopping and dining precinct

Market Analysis

DEMOGRAPHICSSt Kilda comprises mainly of young adults and tertiary students due to its close proximity and easy access to tertiary education facilities, employment in the inner city and large amount of rental stock.

According to the 2011 census, a majority of St Kilda residents are in the 25-29 and 30-34 age categories; the median age being 33 years. Of all households, 40.2% were family households, 47.2% were single person households and 12.7% were group households. Top occupations include Professionals, Managers and Clerical/ Administrative Workers.

The increase in the number of families living in inner city suburbs that were previously deemed unacceptable for families – such as St Kilda and Fitzroy – is due to the improved safety of the area and the establishment of family-friendly infrastructure and amenities. St Kilda in particular has benefitted from urban residential development as the area is now considered a family-oriented lifestyle destination.

POPULATION GROWTHAccording to the Australian Bureau of Statistics, Melbourne is expected to grow at a rate of 2% per year and will be home to 8 million people by 2050. Victoria added 88,966 people to close the 2012-13 financial year with 5.624 million people, just under 25% of all Australians. The Bureau estimates that Melbourne has led the nation’s growth for the11thyearrunning.Naturalincreaseandnetoverseasmigration contributed 40% and 60% respectively to the nation’s total population growth for the year ending December 2012.

St Kilda itself experiences an average annual growth rate of 6.6%(ABSNationalCensus).Itisthelargestneighbourhoodin the City of Port Phillip with a population of approximately 21,418 in 2011.

HOUSING DEMANDHousingdemandintheinnercitycontinuestogrowexponentiallyasthepopulationexpands.Theincrease in the number of new dwellings within the inner city region can be attributed to the rising demand for affordable and convenient residential living solutions.

The planning process is becoming progressively easier for developers as all levels of government acknowledge the need to avoid a housing shortage and accommodation crisis through the construction of new dwellings. In other words, the combination of a fast growing population, inadequate supply and increasingly supportive government policies means there has been no better time than now to develop in the residential arena.

The trend estimate for total dwellings approved across the country rose 0.9% in July 2013 and has risen for five months. Michael Workman from the Commonwealth Bank of Australia points out that the actual number of residential building approvals jumped 10.8% in July - 28.3% higher than a year ago and well above market expecations of 4%. The rise was mainly driven by multi-unit dwellings which rose 24.4% to be 62.5% higher over the past year.

Supply and demand for properties in St Kilda (realestate.com.au):

Oct-12 Jan-13 Apr-13 Jul-13

10,000

Demand Supply

FOR SALE BY TENDERClosing on Tuesday 26th November, 2013 at 4pm, in the o�ce of Castran Gilbert Level 2, 102 - 108 Toorak Road, South Yarra.

Terms of SaleDeposit 10% of the sale price upon signing of the Contract of Sale

Balance 90 / 120 days

CONTACT

Paul Castran (CEO)

Email: pcastran@castrangilbert.com.au

Mobile: 0418 313 038

Phone: (03) 9827 1177

Fax: (03) 9827 3388

INSPECTION CAN BE CARRIED OUT BY APPOINTMENT.

APPENDICES

A. CERTIFICATE OF TITLE

� � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �Copyright State of Victoria. This publication is copyright.No part may be reproduced by any process except in accordance withthe provisions of the Copyright Act and for the purposes of Section32 of the Sale of Land Act 1962 or pursuant to a written agreement.The information is only valid at the time and in the form obtainedfrom the LANDATA REGD TM System. The State of Victoria accepts noresponsibility for any subsequent release, publication or reproductionof the information.

REGISTER SEARCH STATEMENT (Title Search) Transfer of Land Act 1958--------------------------------------------------------------------------------VOLUME 09929 FOLIO 830 Security no : 124045538268L

Produced 22/04/2013 09:08 amLAND DESCRIPTION----------------Land in Plan of Consolidation 171816V.PARENT TITLES :Volume 06312 Folio 322 Volume 09531 Folio 367Created by instrument CP171816V 01/02/1990

REGISTERED PROPRIETOR---------------------Estate Fee SimpleSole Proprietor

FITZROY DEVELOPMENTS (AUSTRALIA) PTY LTD of LEVEL 2, 959 BOURKE ROADCAMBERWELL, VICTORIA 3124AC414092V 20/10/2003

ENCUMBRANCES, CAVEATS AND NOTICES---------------------------------MORTGAGE AH488362G 10/09/2010

WESTPAC BANKING CORPORATION

COVENANT as to part 0402416

COVENANT as to part 0406442

Any encumbrances created by Section 98 Transfer of Land Act 1958 or Section24 Subdivision Act 1988 and any other encumbrances shown or entered on theplan or imaged folio set out under DIAGRAM LOCATION below.

DIAGRAM LOCATION----------------SEE TP457527U FOR FURTHER DETAILS AND BOUNDARIES

ACTIVITY IN THE LAST 125 DAYS-----------------------------

DOCUMENT END � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � ! " � � � � � # � � $ � � � � � � � � � � � � # � � � � �� % � & % � � ' � ( � � � ) � � � � * � � � � � ' � � & � � + ' , - � � � � � � � � � � � . ' / 0 � � � 1 � � � � � � � � � ( � � 2 � � � � ,

B. FLOOR PLANS

UndergroundC

arpark320m

Shop 74m²

Restaurant362m

T FLOO

Office

Office S

527m²

Office

Reception

Kitchen

Office S

pace573m

Reception

Kitchen

Office S

pace578m

Balcony29m

LiftLift

Carpark

18.29m (A

pprox)

18.29m (A

pprox)

81.37m (Approx)

TrainingR

oardroom

Meeting

Room M

eetingR

Meeting 1

Meeting 3

Meeting 2

Boardroom

C. LEASING SCHEDULE

D. LAND SURVEY

E. CONCEPT STUDY

•ARTISAN ARCHITECTS

•SJB ARCHITECTS

Artisan Architects Architect’s Statement The yield is 118 apartments / 108 car spaces / 650 M2 retail unit. The mix is 46 No. 2 bed apts / 72 No. 1 bed apts.

ncept S

165 Fitzro

y Street

October 2013

Architects

Location Plan

1.2 Fitzroy Street

1.3 Aerial

Streetscap

Architects S

tatement

ntents

Architects

are architects, interior designers, planners and urban designers w

ho share a vision for the built environment.

With over 30 years experience and operating in both M

elbourne and S

ydney, SJB

approach design and managem

ent in a holistic w

ay, striving for excellence and relevance on each project.

The broad body of work undertaken by S

JB dem

onstrates strong leadership, team

-based solutions and experience in projects that range from

large scale urban developments to

residential comm

issions.

1.0 Site

Architects

1.1 Location Plan

rchitects

1.0 Site

1.2 Fiztroy Street

2.0 Streetscape

Architects

rchitects

3.0 Architects S

tatement

4.0 Design P

roposal

Architects

165 Fitzroy Street, S

t Kilda

rchitects

165 Fitzroy Street, S

t Kilda

4.0 Design P

roposal

Disclaim

This study has been prepared by SJB

Architects to describe the highest and best use for the subject site, to date no discussions have occurred w

ith the R

elevant Authority or any independent Tow

n Planning C

onsultant in relation to this scheme.

We recom

mend that the proposal is ratified through discussion w

ith a town planning.consultant prior to any decision being m

ade based on this study.

Architects

25 Coventry S

treetS

outhbank, VIC

3006T: 03 9699 6688F: 03 9696 6234

architects@sjb.com

.ausjb.com

ntact Details

DisclaimerThis property report has been prepared by Castran Gilbert (Aust.) Pty. Ltd. solely for information of the potential purchaser to assist them in deciding whether they are sufficiently interested in the property offered for sale to proceed with further investigation of the property. The information does not constitute all or any part of an offer or Contract of Sale and is intended as a guide only.

The information contained in this report has been provided with good faith and with due care by Castran Gilbert (Aust.) Pty. Ltd. Potential purchasers should take note, however, that any calculations contained in the report are based on figures provided by Castran Gilbert (Aust.) Pty. Ltd. by outside sources and have not been independently verified by Castran Gilbert (Aust.) Pty. Ltd.

All price estimates and income quoted are inclusive of the goods and Services Tax unless otherwise stated.

No liability for negligence or otherwise is assumed by Castran Gilbert (Aust.) Pty. Ltd. for the material contained in this report. (Any liability on the part of Castran Gilbert (Aust.) Pty. Ltd., its servants or agents for damages for any claim arising out of or in connection with this report, other than liability which is totally excluded by this clause, shall not (whether or not such liability results from or involves negligence) exceed $1,000.)

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

To the extent that any of the above paragraphs may be construed as being contravention of any law of the State of Commonwealth, such paragraphs shall not be read down or severed or both, as the case may require. Paragraphs shall continue to have full force and effect.

IM - 165 Fitzroy Street, St Kilda

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