187-189 Coleman Parade, Glen Waverley, VIC 3150

Positioned within the vibrant retail and commercial precinct of Glen Waverley, this substantial freehold opportunity offers investors a versatile multi-tenanted asset with strong existing income and significant rental upside. Located just moments from the thriving activity hub surrounding The Glen Shopping Centre and Glen Waverley Railway Station, the property benefits from excellent foot traffic, strong local amenity, and a tightly held commercial strip.

Set on a land area of 453m² and providing a total building area of 751m² (approx.), the property comprises three separate tenancies across ground and first floor levels, two of which are currently leased, providing an immediate income stream with additional leasing potential.

Property Highlights

- Land Area: 453m² (approx.)

- Total NLA: 751m² (approx.)

- Three (3) tenancies across two levels

- Two leased, one vacant - offering immediate income with value-add potential

- Estimated fully leased potential: approx. $330,000 per annum

Tenancy Breakdown

187 Coleman Pde - Ground Floor Restaurant

- NLA: 341m² (approx.)

- Established restaurant tenancy occupying the entire ground floor

- Long-standing hospitality presence benefiting from the strong dining culture of the precinct

1/187-189 Coleman Pde - First Floor Office (Vacant)

- NLA: 205m² (approx.)

- Currently vacant, offering immediate leasing opportunity or potential owner-occupier use

2/187-189 Coleman Pde - Beauty Salon / Classroom / Sales Office

- NLA: 205m² (approx.)

- Versatile commercial space suitable for a variety of service-based uses

Location Highlights

- Located within the tightly held Coleman Parade commercial strip in the heart of Glen Waverley

• Next to the Glen Shopping Centre - one of Melbourne's major regional shopping centres with over 240 retailers and more than 14 million annual visits

• Anchor tenants including David Jones, Target, Woolworths, Coles and ALDI

• Nearby entertainment including Village Cinemas within the Kingsway entertainment precinct

• Highly sought-after eastern suburbs commercial precinct with strong population growth and consistent demand

This is a rare opportunity to secure a substantial freehold investment in one of Melbourne's most sought-after suburban commercial precincts, offering strong holding income and excellent rental growth potential.

Contact Tim Frlan 0412 767 656 or Jonathon Arfi 0473 080 322 today!