Strategic Convenience Retail Freehold Investment with Brand New 12 Year Lease

1025 Frankston-Flinders Road, Somerville VIC

Property Highlights

Brand new 12-year lease to 2033
Landlord favourable net lease terms
Annual 2.5% rent increases
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Description

+ Brand new 12 year net lease to 2033 plus options to 2063.
+ United Petroleum: Top-tier tenant, one of Australia’s largest and fastest growing independent fuel retailers with over 450 sites nationally.*
+ Secure, set-and-forget net lease structure with tenant responsible for council rates, water rates, insurance and repairs and maintenance.
+ Strong and certain rental growth with annual, fixed compounding 2.5% increases.
+ Large 2,086sqm site strategic positioned as the first service centre off the Peninsula Link homebound side.
+ Within 550 metres of Somerville’s retail hub which includes 2 major shopping centres anchored by multiple national tenants such as Coles, Woolworths, Target and McDonalds.
+ Situated within 200m of Somerville’s Industrial precinct which has a strong focus to port businesses being so close to Western Port Bay.
+ Mornington Peninsula, one of Victoria’s leading tourism destinations and booming drive holiday market with domestic spend of $742million*****
+ Surrounded by important social infrastructure, including 5 schools within 3km servicing a combined 1,157 full-time students.**
+ By 2036, The Mornington Peninsula shire population is forecast to grow by 7.71% to 181,097 people****
+ Minimum management, essential service investment.
+ Net Rent: $172,375 pa

For Sale by Investment Portfolio Auction
11am (AEST) Tuesday 28 September 2021

*United Petroleum
**Gapmaps
****forecast.id
***** business.vic.gov.au

*All areas and figures approx only. All boundaries are indicative only. All precaution has been taken to establish the accuracy of all information but does not constitute any representation by the Vendor or Agents.

Property Details

Listing
Sale
Current Tenant
Tenanted
Occupancy Type
Fuel Station
Land Size
2,086 SQM
Building Area
1 SQM

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