15 Year Lease to 2035 Plus Options | Opposite Coles Anchored Shopping Centre

323 North East Road (Corner Muller Road) , Hampstead Gardens SA

Property Highlights

Significant depreciation benefits
Annual fixed 3% rent increases
Stamp duty free investment
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Burgess Rawson in conjunction with Knight Frank are pleased to offer to the market the Mobil X Convenience located in Hampstead Gardens (Adelaide) SA for sale via our Investment Auction Portfolio 162.

The property has the following investment highlights:
+ Fifteen (15) year lease to 2035 plus two (2) further ten (10) year options to 2055.
+ Mobil X Convenience: fast growing independent fuel retailer with over 45 service stations across South Australia and Western Australia.**
+ Strong and certain rental growth with annual, fixed compounding 3% increases.
+ Landlord-favourable lease terms with tenant responsible for all usual outgoings excluding Land Tax.
+ New freestanding convenience retail asset offering significant depreciation benefits.
+ High-profile 1,950sqm* corner site with 127m* dual street frontage and 3 important crossovers.
+ Exposure to Muller & North East Road, two major Adelaide commuter roads servicing a combined 55,000+ vehicles per day.***
+ Located 6km* from Adelaide CBD, opposite Tradelink, Kennards Storage and Greenacres Central, a premier neighbourhood shopping centre anchored by Coles Supermarket and supported by 21 specialty tenants.
+ Bunnings Warehouse, Sydney Tools, Reece Plumbing, Storage King, Bridgestone Select, Goodyear Autocare, Toyota, Mitsubishi, Kia, Suzuki, Isuzu, MG and various fast-food restaurants all within 2km*.
+ Surrounded by important social infrastructure, with 24 schools within 3km* servicing over 15,400 full-time students.***
+ Hampstead Gardens: City fringe metro Adelaide growth suburb : 6km* from Adelaide CBD, with median house prices up 13% (in the past 12 months) to $780,000.****
+ City of Port Adelaide Enfield: South Australia’s 3rd largest LGA (current population of 135,844), generating $10.9 billion in Gross Regional Product (GRP) with an estimated 82,487 jobs in the area.*****
+ Stamp duty free investment.
+ Net Income: $303,324 pa* + GST

For Sale by Investment Portfolio Auction
10:30am (AEST) Wednesday 2 August 2023
Melbourne, Crown Casino, River Room

** X Convenience

Property Details

Current Tenant
Occupancy Type
Service Station
Land Size
1,950 SQM
Building Area

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