SOLD
SOLD
SOLD
SOLD
SOLD
SOLD
SOLD
SOLD
SOLD
SOLD
SOLD
SOLD
SOLD
SOLD
SOLD
SOLD
SOLD
SOLD

Brand New Childcare Investment with 20 Year Triple Net Lease

24 Azolla Avenue, Werribee VIC

Property Highlights

20+10+10 Year Triple Net Lease to 2060
3% annual rent increases
Prominent 2,699 sqm corner site
Register to Bid

Description

+ New 20 year Triple Net Lease to Imagine Childcare & Kindergarten to 2040
+ Two further 10 year options to 2060
+ Imagine Childcare & Kindergarten: long established and highly successful early education provider with 9 centres nationally
+ Triple Net Lease – tenant pays all outgoings including: maintenance (both capital and structural) insurances, rates, management fees and land tax (single holding basis)
+ Desirable 3% annual rent increases with ratchet provisions at market review, ensuring rental growth
+ Prominent 2,699 sqm site with street frontage of over 127 metres
+ Impressive brand new 825 sqm purpose built child care facility licensed for 112 LDC places
+ New construction with significant depreciation benefits
+ Ideally positioned within the Kings Leigh master-planned community, with direct access to Princes Freeway and proximity to both Werribee Town Centre and Train Station
+ Wyndham City: one of Australia’s largest growth areas, with forecast growth to 489,379 residents (81%increase) by 2041
+ Net Income: $334,320 + GST and Outgoings

Auction 10:30am AEST Wednesday 24 June 2020
River Room, Crown Casino, Melbourne

To secure your place/seat at Crown, a bidder holding deposit of $1,000 will be required at least 2 days prior to the auction. If you wish to bid remotely, a holding deposit of $10,000, paid at least 2 days earlier than the 24th June, will be required to be deposited into our sales trust account. Should you be unsuccessful in securing a property, the full holding deposit will be returned within 48 hours. Please contact an agent to register.

Property Details

Listing
Sale
Current Tenant
Tenanted
Occupancy Type
Childcare
Land Size
2,699 SQM
Building Area
825 SQM

Contact Agents

Contact Me

Stay up to date with our latest portfolio auctions & insights