New 10+10+10 Year Lease to Essential Service Tenant

305 Warrigal Road, Cheltenham VIC

Property Highlights

New 10 year net lease
Funeral Home Since 1995
Fixed 3% rent increases     
Register to Bid

Description

Brand new 10+10+10 year lease to 2051.
Kingston Funerals: market leading operator established on-site 26 years.
Thriving essential service sector.
Favourable net lease terms with tenant paying all usual outgoings.
Strong and certain rental growth with compounding, annual 3% rent increases.
Irreplaceable 1,259sqm corner landholding with important 61 metre dual street frontage, 19 car spaces and 27,650 vehicles passing daily.
Easily accessible Warrigal Road site, situated directly between Nepean Highway and Dingley Bypass and within 2km of Moorabbin Airport.
Superbly located within 2km of Westfield Southland (370 retailers), DFO Moorabbin (110 retailers), Bunnings, McDonald’s, Hungry Jack’s, Jaycar, Repco, Sydney Tools and RSEA Safety.
Cheltenham: booming suburb 18km south-east of Melbourne CBD with median house price of $1.162,000, (10.2% up since Sep 2020) and population forecast to grow 26.4% by 2041.
Defensive, set-and-forget freehold investment.
Estimated Net Income: $144,625pa + GST .

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

Property Details

Listing
Sale
Current Tenant
Tenanted
Occupancy Type
Medical Centre
Land Size
1,259 SQM
Building Area
1 SQM

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