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10 Year Lease + Option to 2032 – Significant Underlying Land Value

468-472 Princes Highway , Noble Park VIC

Property Highlights

10 Year Lease + Option to 2032
Fixed 3% rent increases/Tenant pays OG
High Profile 5,779 sqm Landholding

Description

+Secure 10 year lease to 2027 plus option to 2032.
+In2Performance: World renowned training facility with huge active membership base.
+Strong and certain income growth with fixed, annual compounding 3% rent increases.
+Landlord favourable, set-and-forget net lease structure with tenant responsible for all usual outgoings excluding land tax.
+Major 5,779 sqm* landholding with 168 metres* of combined frontage and exposure to Princes Highway and Overseas Drive, two main arterial roads servicing over 45,000 vehicles daily.**
+Versatile Commercial 2 Zoning (C2Z) with significant development upside.
+Imposing 3,300 sqm* state-of-the-art facility with ample on-site car parking.
+Strategic Metro-Melbourne location just 25km* from Melbourne CBD.
+Situated within close proximity to various high-profile national tenants, with Coles, McDonald’s, KFC, Domino’s Pizza, 7-Eleven, Chemist Warehouse & Harvey Norman all within 1.5km*.
+Surrounded by important social infrastructure, including 25 schools within 3km servicing over 13,000 full time students.**
+Greater Dandenong: Fast growing region, with population forecast to grow 22% to over 205,000 by 2029.***
+Geographical significance of the area evident through ongoing government funded development projects the $600 million Dandenong Central Revitalisation Project will deliver over 500 new dwellings, community spaces, retail opportunities and entertainment district.***
+Net Income: $253,563 pa* + GST

For Sale by Investment Portfolio Auction
10:30am (AEDT) Wednesday 11 May 2022
Crown Casino – River Room

*Approximately
**GapMaps
***Greater Dandenong Council

Burgess Rawson Agents
Shaun Venables 0411 860 865
Matthew Wright 0458 290 588
Rick Jacobson 0413 830 083

Vinci Carbone Agents
Frank Vinci 0418 375 375
Joseph Carbone 0418 351 316

Property Details

Listing
Sale
Current Tenant
Tenanted
Land Size
5,779 SQM
Building Area
3,300 SQM

Contact Agents

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