Springvale 12-14 Windsor Avenue

12-14 Windsor Ave represents a great opportunity for the astute investor/developer to acquire a large parcel of prime Springvale real estate in a very convenient location.
A regular shaped corner block boasting a 30.25m frontage to Windsor Ave and just under 50m facing St Johns Ave designated Commercial 1 Zone (C1Z) allowing for "vibrant mixed-use" in a multi-storey building in the heart of Springvale. Currently, operating as a Radiology clinic with its own paid carpark on StJohns Ave providing 19 customer car spaces and 3 tandem staff parking spaces. This convenient location is opposite a childcare centre, adjacent to St Joseph's Catholic Primary School and a very short walk to the Springvale market.
Established in 2009 the current operators perform numerous medical diagnostic procedures from X-rays to ultra-sounds five days per week for the local community with a small area sublet for blood test services. A renewed five (5) lease was signed in Jan 2023 with a fixed 3% annual rental increase and a further five (5) year option available. Currently annual rental return stands at $247,120 /Anum plus GST and outgoings.
For the investor/developer there is plenty of scope for future development with the bonus of a long-term tenant in residence while submitting plans for council approval.
Zoning classification allows for a multi-level mixed use building with ground floor shops, subject to council approval. (STCA) In general, this zoning allows for a wide range of uses, including retail, offices, restaurants, and residential developments provide scope for the developer to maximise land use.
Springvale is home to a mix of cultures, tradition and spiritual beliefs expressed in the many festive events staged during the year bringing residents and visitors together creating an inclusiveness, harmonious suburb.

Property Features:
Site area 1394m2 approximatelyZoning Commercial 1 (C1Z)Current Tenant Capitol Radiology Pty Ltd.Lease, 5 years commenced 23 March 2009Lease renewed 2 January 2023, 5 years with a further 5 yr term (1 x 5) availableRental 2023: $232,934.51 with annual increase fixed at 3%Rental Return2025: $ 20,593.35 per calendar month ie: $ 247,120.23 per annum Plus GST, Plus all outgoingsSituated within the Springvale CBD Park for 19 patients and 3 staff

Property Information

• Land area approx 1394sqm
• Floor area approx 520sqm