7 Year Net Lease to Victorian Government | Major Upgrade Offering Significant Depreciation
571-575 Raglan Parade , Warrnambool VIC
Property Highlights
Description
+ Seven (7) year lease to the Victorian Government through to 2028 plus two (2) further five (5) year options through to 2038.
+ The Orange Door: Victorian Government funded family support service with 36 locations helping to care for families across Victoria.
+ Investor preferred net lease terms with the Victorian Government responsible for all usual outgoings including Land Tax, management fees and building insurance.
+ Income growth with fixed annual rent increases.
+ State-of-the-art 1,305sqm* single level building with important 5-star NABERS rating.
+ Major tenant and landlord funded upgrades, capital-intensive refurbishment and fit out to the State Governments corporate layout and design providing significant tax depreciation benefits.
+ Significant 1,504sqm* Commercial 1 Zone (C1Z) site with on-site car parking and 28* metre frontage to Raglan Parade (Princes Highway).
+ Prime highway position next to McDonald’s and gateway to Warrnambool’s dynamic and growing CBD with many national retailers.
+ Warrnambool: Victoria’s largest coastal city (outside Port Phillip Bay) with a growing trade catchment circa 100,000 and thriving tourism hotspots of Port Campbell, Port Fairy and Warrnambool attract more than 2 million visitors combined each year.**
+ Warrnambool Line Upgrade: Major $251 million rail line upgrade set to allow for reduced travel times and deliver a fifth weekday return service, set for completion in late 2023.***
+ Net Income: $304,672 pa* + GST. (As at February 2024)
To be sold via Private Treaty
*Approx
** Location IQ
*** Big Build VIC
Property Details