![]() Asset Class: | Retail |
![]() Price: | $ 620000 |
![]() Net Yield: | 6.08 % |
![]() Net Yield - including solar strategy: | % |
![]() Property Market Status: | Off Market |
<p style=""><span style="color:rgb(0, 0, 0);">Welcome to 468 Smith Street, Collingwood—an exceptional investment opportunity in one of Melbourne’s most dynamic inner-city precincts, located just 3 kilometres from the CBD. This newly constructed commercial property boasts a prime location along the bustling Smith Street, a cultural and retail hub consistently ranked among Melbourne’s most sought-after streets. </span></p><br><p style=""><span style="color:rgb(0, 0, 0);">Offering approximately 75 square meters of premium retail space with a secure car park on title, the property is currently leased to the reputable Renaissance Cosmetic Clinic, a well-established franchise with a national presence.The lease is to commence in January 2025, securing a 5-year term with an option for an additional 5 years, generating a solid annual rental income of $40,000 plus outgoings and GST, and fixed 4% annual increases.</span></p><br><p style=""><span style="color:rgb(0, 0, 0);">The property delivers a robust net yield of 6.08% and offers significant depreciation benefits. It features a brand-new fit-out currently under construction, ensuring a modern and high-quality space for the tenant. Located opposite the vibrant shopping and dining strip, the site enjoys high foot traffic and excellent exposure, further enhanced by its proximity to public transport options, including tram routes and train stations.</span></p><br><p style=""><span style="color:rgb(0, 0, 0);">With its modern fit-out, reputable tenant, and prime location in a thriving commercial corridor, 468 Smith Street presents a compelling opportunity for investors seeking a stable, high-yielding asset in Melbourne’s city fringe.</span></p><p style=""><span style="color:rgb(0, 0, 0);"><b> </b></span></p>
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<p style=""><span style="color:rgb(0, 0, 0);">Collingwood, one of Melbourne’s oldest suburbs, is a vibrant and eclectic neighbourhood known for its rich history, creative culture, and evolving urban landscape. Situated just 3 kilometers from the CBD, Collingwood attracts a diverse mix of residents, including young professionals, creatives, and long-term locals. According to recent demographic data, the suburb has a population of approximately 9,000 people, with a median age of 33, reflecting its appeal to a younger, dynamic community. About 60% of residents rent their homes, highlighting the area’s popularity with transient professionals and students. The median house price is around $1.3 million, while apartments typically sell for approximately $600,000, reflecting the high demand for property in the area.</span></p><br><p style=""><span style="color:rgb(0, 0, 0);">Once a working-class industrial hub, Collingwood has transformed into a hotspot for art, design, and independent businesses. The suburb retains its gritty charm, with historic warehouses and factories now repurposed into trendy loft apartments, galleries, and co-working spaces. It also boasts a thriving hospitality scene, with an array of cafes, craft breweries, and renowned restaurants, reflecting its cosmopolitan vibe.</span></p><br><p style=""><span style="color:rgb(0, 0, 0);">Collingwood is well-connected to the rest of Melbourne through public transport, with Smith Street serviced by trams 86 and 109, and Collingwood train station providing easy access to the Mernda and Hurstbridge lines. The suburb is also bike-friendly, with numerous cycling paths leading into the city. </span></p><br><p style=""><span style="color:rgb(0, 0, 0);">As Collingwood continues to undergo gentrification, new developments and revitalization projects, such as the transformation of Collingwood Yards into a creative precinct, are enhancing the suburb’s appeal. Despite the influx of modern developments, the community remains committed to preserving the area’s heritage and cultural identity. With its vibrant arts scene, diverse dining options, and close proximity to the CBD, Collingwood offers a unique lifestyle that balances urban convenience with a strong sense of community.</span></p><br><p style=""><span style="color:rgb(0, 0, 0);"><b><u>Smith Street </u></b></span></p><p style=""><span style="color:rgb(0, 0, 0);font-weight:normal;">Smith Street, a bustling artery that runs through the heart of Collingwood and Fitzroy, is widely regarded as one of Melbourne’s most iconic streets. Voted the “coolest street in the world” by </span><span style="color:rgb(0, 0, 0);font-weight:normal;"><i>Time Out</i></span><span style="color:rgb(0, 0, 0);font-weight:normal;"> in 2021, Smith Street epitomizes the city’s unique blend of history, creativity, and diversity. It has become a destination in its own right, attracting visitors and locals alike with its eclectic mix of shops, restaurants, and cultural offerings.</span></p><br><p style=""><span style="color:rgb(0, 0, 0);">The street is known for its strong heritage character, lined with historic buildings that house a mix of independent boutiques, vintage stores, and artisanal retailers. Smith Street’s dining scene is second to none, featuring everything from casual eateries to fine dining establishments, with cuisines that reflect Melbourne’s multicultural population. Smith Street’s reputation as a cultural and social hub continues to grow, making it a must-visit destination in Melbourne. Its unique blend of history, innovation, and community spirit ensures it remains one of the most sought-after locations in the city.</span></p><p style=""><span style="color:rgb(0, 0, 0);"> </span></p>
Additional Location Information File<p style=""><span style="color:rgb(0, 0, 0);">Renaissance Cosmetic Clinic is a well-established franchise with 14 locations across Australia, including key sites in Melbourne’s CBD, South Yarra, and Brighton. The franchise model allows for a balance between brand consistency and local customization, enabling each clinic to cater to the unique needs of its clientele while adhering to the high standards set by the brand. Renaissance specializes in advanced cosmetic treatments such as laser therapies, anti-aging procedures, dermal fillers, and tailored skincare solutions, delivered in luxurious, spa-like settings by registered nurses and doctors trained in cosmetic medicine.</span></p><br><p style=""><span style="color:rgb(0, 0, 0);">In addition to its presence in Melbourne, Renaissance has a strong footprint in Perth, with clinics in Applecross, Leederville, Allendale Square, Wanneroo, Dalkeith, East Perth, Secret Harbour, and Mosman Park, as well as locations in Albany and Brisbane. The clinics are supported by a medical director with over 30 years of experience, ensuring all treatments are performed with the highest levels of safety and effectiveness. Alongside their services, Renaissance also offers a range of quality Australian-made cosmeceuticals, further solidifying its position as a comprehensive provider of both cosmetic goods and services. This combination of expertise, premium offerings, and national reach makes Renaissance a reliable and attractive tenant in the health and beauty sector.</span></p><p style=""><span style="color:rgb(0, 0, 0);"> </span></p><p style=""><span style="color:rgb(0, 0, 0);"> </span></p><p style=""><span style="color:rgb(0, 0, 0);"> </span></p>
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Lot 2R, 468 Smith St, Collingwood $40,000 75 $533psqm 332 Smith St, Collingwood $43,412 88 $493psqm 122 Smith Street, Collingwood $70,000 130 $538psqm 261 Brunswick Street, Fitzroy $77,000 150 $513psqm 165 Gertrude Street, Fitzroy $101,754 180 $565psqm 13 Smith Street, Fitzroy $56,243 99 $568psqm
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<ul style="list-style-type:disc;list-style-position:inside;padding-inline-start:20px;"><li style="list-style-image:none;margin-inline-start:0px;color:rgb(0, 0, 0);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">Returning approximately $40,000 per annum plus outgoings and GST </span></p></li><li style="list-style-image:none;margin-inline-start:0px;color:rgb(0, 0, 0);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">6.08% net yield</span></p></li><li style="list-style-image:none;margin-inline-start:0px;color:rgb(0, 0, 0);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">New 5-year lease with an additional 1 x 5-year option</span></p></li><li style="list-style-image:none;margin-inline-start:0px;color:rgb(0, 0, 0);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">Fixed annual 4% increases</span></p></li><li style="list-style-image:none;margin-inline-start:0px;color:rgb(0, 0, 0);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">Tenant is Renaissance clinic – Franchise cosmetic clinic with 14 locations across Australia </span></p></li><li style="list-style-image:none;margin-inline-start:0px;color:rgb(0, 0, 0);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">Tenant pays all outgoings excluding land tax and property management</span></p></li><li style="list-style-image:none;margin-inline-start:0px;color:rgb(0, 0, 0);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">75 sqm premises approx.</span></p></li><li style="list-style-image:none;margin-inline-start:0px;color:rgb(0, 0, 0);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">1 secure car space on title </span></p></li><li style="list-style-image:none;margin-inline-start:0px;color:rgb(0, 0, 0);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">Brand new shop – Fit out currently being completed </span></p></li><li style="list-style-image:none;margin-inline-start:0px;color:rgb(0, 0, 0);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">Prime Smith Street Collingwood location </span></p></li><li style="list-style-image:none;margin-inline-start:0px;color:rgb(0, 0, 0);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">Depreciation benefits </span></p></li></ul>