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328 Reserve Rd 2,249 SF Office Condo Unit Offered at $1,081,088 CAD in Cheltenham, VIC 3192
Executive Summary
This property occupies a premium position within a highly regarded Bayside business park on Reserve Road. Permanent physical design characteristics include floor-to-ceiling glazing along both levels for superior natural light, a contemporary façade, and internal configurations combining glass-partitioned offices with flexible open-plan spaces. The strata office development offers strong common amenity, including landscaped surrounds and the Onyx café on site, reinforcing a professional business environment. Located on the beachside of Nepean Highway, the property benefits from convenient proximity to Highett, Cheltenham, Southland precinct, and key arterial linkages, making its locational advantage enduring for professional occupiers and investors alike.
1 Unit Available
- Unit
- Unit Size
- Condo Use
- Price
- NOI
| Sale Type | Investment | APN/Parcel ID | 31\PS543206 |
| No. Parking Spaces | 5 |
| Sale Type | Investment |
| No. Parking Spaces | 5 |
| APN/Parcel ID | 31\PS543206 |
Description
Unit 3 is part of an architecturally designed business park at 328 Reserve Road in Cheltenham, Victoria, providing modern office and light industrial accommodation within a well-maintained complex. The development includes allocated car parking and shared amenities, complemented by an on-site café for occupant convenience.
This individual unit comprises a two-level office configuration with integrated warehouse functionality, offering adaptability for various business uses. The building features contemporary finishes and professional-grade infrastructure, including climate control and efficient layout planning. The property is located in close proximity to Southland Shopping Centre, major road networks, and surrounding Bayside corridors, ensuring excellent accessibility to Melbourne’s CBD and suburban hubs.
This individual unit comprises a two-level office configuration with integrated warehouse functionality, offering adaptability for various business uses. The building features contemporary finishes and professional-grade infrastructure, including climate control and efficient layout planning. The property is located in close proximity to Southland Shopping Centre, major road networks, and surrounding Bayside corridors, ensuring excellent accessibility to Melbourne’s CBD and suburban hubs.
Sale Notes
Unit 3 at 328 Reserve Road presents a premium commercial investment opportunity in Cheltenham’s highly sought-after Bayside precinct. Leased to ASX-listed Kalamazoo Resources, this asset delivers a reliable income stream backed by a freshly renewed lease expiring 7 March 2026 with a 2 x 2-year option structure and 4.5% annual reviews. The current return stands at $62,700 plus GST and outgoings, supported by a non-retail lease with 100% outgoing recovery, including land tax.
The property spans two levels and features a stylish modern office fit-out designed for practical functionality and professional image, enhancing tenant appeal and long-term stability. Investors will appreciate the inclusion of five on-title car parks and the location within a vibrant business park anchored by an on-site café, fostering a convenient and collaborative work environment.
The property spans two levels and features a stylish modern office fit-out designed for practical functionality and professional image, enhancing tenant appeal and long-term stability. Investors will appreciate the inclusion of five on-title car parks and the location within a vibrant business park anchored by an on-site café, fostering a convenient and collaborative work environment.
| Unit | Unit Size | Condo Use | Price | NOI |
| Unit 3 | 2,249 SF | Office | $1,081,088 CAD ($480.70 CAD/SF) | - |
Unit 3
| Unit Size |
| 2,249 SF |
| Condo Use |
| Office |
| Price |
| $1,081,088 CAD ($480.70 CAD/SF) |
| NOI |
| - |
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Unit 3
| Unit Size | 2,249 SF |
| Condo Use | Office |
| Price | $1,081,088 CAD ($480.70 CAD/SF) |
| NOI | - |
| Sale Type | Investment |
| No. Parking Spaces | 5 |
| APN/Parcel ID | 31\PS543206 |
| Description | |
| Unit 3 is part of an architecturally designed business park at 328 Reserve Road in Cheltenham, Victoria, providing modern office and light industrial accommodation within a well-maintained complex. The development includes allocated car parking and shared amenities, complemented by an on-site café for occupant convenience.<br> <br> This individual unit comprises a two-level office configuration with integrated warehouse functionality, offering adaptability for various business uses. The building features contemporary finishes and professional-grade infrastructure, including climate control and efficient layout planning. The property is located in close proximity to Southland Shopping Centre, major road networks, and surrounding Bayside corridors, ensuring excellent accessibility to Melbourne’s CBD and suburban hubs.</li></ul> | |
| Sale Notes | |
| Unit 3 at 328 Reserve Road presents a premium commercial investment opportunity in Cheltenham’s highly sought-after Bayside precinct. Leased to ASX-listed Kalamazoo Resources, this asset delivers a reliable income stream backed by a freshly renewed lease expiring 7 March 2026 with a 2 x 2-year option structure and 4.5% annual reviews. The current return stands at $62,700 plus GST and outgoings, supported by a non-retail lease with 100% outgoing recovery, including land tax.<br> <br> The property spans two levels and features a stylish modern office fit-out designed for practical functionality and professional image, enhancing tenant appeal and long-term stability. Investors will appreciate the inclusion of five on-title car parks and the location within a vibrant business park anchored by an on-site café, fostering a convenient and collaborative work environment.</li></ul> |
Property Facts
The following property facts and amenities apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
| Total Building Size | 26,781 SF | Floors | 2 |
| Property Type | Office (Condo) | Typical Floor Size | 13,390 SF |
| Building Class | C | Lot Size | 2.72 AC |
| Total Building Size | 26,781 SF |
| Property Type | Office (Condo) |
| Building Class | C |
| Floors | 2 |
| Typical Floor Size | 13,390 SF |
| Lot Size | 2.72 AC |
Amenities
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328 Reserve Rd
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