Commanding Freehold with Ultimate Flexibility

Perfectly positioned just minutes from the premier shopping strip of Carlisle Street Balaclava, this outstanding freehold asset consists of both commercial and residential upside, along with future potential redevelopment (STCA). Benefiting from rear access and a flexible lease profile, this is an outstanding opportunity in one of Melbourne's most vibrant locations. <br/><br/>THE RETAIL SPACE<br/><br/>Securely leased to 'Michael's Cameras Hire' - a Family Owned and Operated Since 1916 that operates in both St Kilda and Melbourne's CBD. Landlord favoured 4% increases and modern tenant fit out.<br/><br/>THE RESIDENCE<br/><br/>Fully refurbished residence and private access via Chapel Street comprising of two bedrooms with BIRs, lounge room with split system, kitchen with modern appliances leading to sunny breakfast corner with euro laundry, and a stylish bathroom.<br/><br/>THE WAREHOUSE-CONVERSION<br/><br/>Once an old shoe factory, the conversion offers modern luxuries but retains the rustic features of original timber flooring contrasted against polished concrete and bare brick walls. Sliding barn doors and an open plan kitchen and living with electric cooking and dishwasher. Three spacious bedrooms each offer built-in robes, ceiling fans, electric panel heaters and modern bathroom. Split system A/C and private access via the rear lane offers the flexibility of residential or commercial use.<br/><br/>PROPERTY PARTICUALRS<br/><br/>> Land size 281m2 *<br/>> Floor area 305m2 *<br/>> Commercial 1 zoning<br/><br/>For all enquiries or to arrange a private inspection, please contact exclusive agents Nelson Alexander Commercial on 9419 5511. <br/><br/>*all measurements are approximate