SOLD
SOLD
SOLD
SOLD
SOLD
SOLD
SOLD
SOLD
SOLD
SOLD
SOLD

Entry Level Freehold | Established Tenant

51a McCartin Street, Leongatha VIC

Property Highlights

Long Successful Occupant
Impeccable Rental History
First time offered since 1973
Register to Bid

Description

Burgess Rawson and Alex Scott Leongatha are pleased to offer to the market, DF Fitness Centre in Leongatha VIC for sale via our Investment Auction Portfolio 168.

The property has the following investment highlights:

+ 5 year lease to January 2026 plus 5 + 5 year options to 2036
+ Investor preferred net lease terms with tenant paying usual outgoings as per lease
+ Fixed 2.5% annual rent increases
+ Low rent per/sqm providing for potential significant future rental uplift
+ Long established health & fitness club since circa 2003
+ Health club expanded into 51a McCartin Street since 2016
+ Long successful and experienced proprietor circa 16 years
+ Membership up circa 20% in last 12 months
+ 341 sqm* freestanding single level building, plus rear verandah
+ Prime 506sqm* freehold site with 10 metre retail frontage
+ Site includes easy rear access and parking
+ High profile Bass Hwy position, major thoroughfare connecting Latrobe Valley to Bass Coast and beyond
+ Proven location mostly central between national retail giants KHub (opposite) and Aldi (rear side) and short distance to Woolworths, IGA, CBA.
+ Potential 50% stamp duty saving
+ Leongatha: capital township of South Gippsland, rich dairy region, circa 15,000 trade catchment
+ Net Rent $28,101 pa* + GST

To be sold by Investment Portfolio Auction
10:30am (AEST) Tuesday 14 May 2024
Crown Casino, Melbourne

Property Details

Listing
Sale
Current Tenant
Tenanted
Occupancy Type
Leisure/Hospitality
Land Size
506 SQM
Building Area
341 SQM

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