Brand New 20 Year Lease to VIC Government Health Service | Land Rich 8,896*sqm Metro Site

1480-1492 Heatherton Road , Dandenong VIC

Property Highlights

New 20 Year Lease to 2044
Fixed 3% Rent Increases
Enormous 8,896sqm* Corner Site

Description

Burgess Rawson are pleased to offer to the market fully leased medical facility in Dandenong VIC, for sale via Expressions of Interest closing 4pm on Thursday the 11th April 2024

The property has the following investment highlights:
+ Brand new 20 year lease to Victorian public health service to 2044 with 5 further 15 year options to 2119.
+ Leased to leading healthcare provider with over 40 locations providing care for over 3.6 millions incidents within the community each year.
+ Strong and certain income growth with fixed annual, compounding 3% increases.
+ Landlord friendly net lease structure with the tenant responsible for all usual outgoings excluding land tax.
+ Irreplaceable 8,896sqm* site with triple street frontage – including 2 residential houses.
+ Important residential 1 zoning across the entire site.
+ Comprising a significant 2 level medical facility, support buildings and 93 on-site car spaces
+ Commanding 116m* main road exposure to Heatherton Road servicing 26,000 vehicles passing daily.**
+ Strategically positioned with easy access to major arterials such as Frankston-Dandenong Road, Monash Freeway, South Gippsland Highway/Freeway and Eastlink.
+ Surrounded by important social infrastructure, within a 3km radius, the total spending on health was equal to $63.6 million with over 259,000 GP visits in 2023.**
+ City of Greater Dandenong: Home to 164,484 people, expected to increase by 15.4% to 189,891 by 2036*** supporting 114,506 jobs with an annual economic output of $57.2 billion.****
+ Rent: $500,000 pa* + GST

To be sold via Expressions of Interest
Closing 4pm (AEST) Thursday 11 April 2024

*Approx
** GapMaps
*** Victoria in Future 2023
**** REMPLAN

Property Details

Listing
Sale
Current Tenant
Tenanted
Occupancy Type
Industrial
Land Size
8,896 SQM
Building Area
4,040 SQM

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