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Landmark 7,372sqm Metro Melbourne Convenience Retail Investment

650 Kororoit Creek Road , Altona North VIC

Property Highlights

New 12-year net lease to 2034
Annual 3% rent increases
Major 7,372 sqm* site

Description

+ New 12-year lease to 2034 plus options to 2064.
+ United Petroleum: Top tier tenant, one of Australia’s largest and fastest growing independent fuel retailers with over 465 sites nationally.**
+ Strong and certain rental growth with annual fixed, compounding 3% increases.
+ Landlord-favourable, set-and-forget net lease structure with tenant responsible for council rates, water rates, insurance and repairs and maintenance.
+ Significant depreciation benefits, with $321,000 in potential year 1 tax deductions (73.9%).***
+ Major 7,372 sqm* retail site with 173 metres* of combined frontage to Kororoit Creek Road and Grieve Parade, two main arterial roads servicing over 41,000 vehicles daily.****
+ Strategic Metro-Melbourne location just 14km* from Melbourne CBD and 10km* to Port Melbourne.
+ Nike DC, Godfreys DC, QUBE, Toyota MC, Toll, DHL, Linfox, BGC, Bunnings, Woolworths, Princes Freeway and West Gate Freeway connections all within 2.5km*.
+ One of Australia’s most important logistics hubs, the City of Hobsons Bay generates $19.39 billion in annual economic output with an estimated 43,487 jobs in the area.*****
+ Altona North: Booming growth suburb, with population forecast to grow 73% by 2041.******
+ Geographical significance of the area evident through ongoing government funded development projects – the $6.7 billion West Gate Tunnel Project will deliver an alternative to the West Gate Bridge, providing a second river crossing and improving connections between Melbourne’s west, the city centre, and Melbourne’s major ports.*******
+ Minimum management, essential service investment.
+ Net Income: $434,425 pa*

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

*Approximately
** United Petroleum
*** Mazo
**** Gapmaps
***** Remplan & Economy.id
****** Forecast.id
******* Transurban

Property Details

Listing
Sale
Current Tenant
Tenanted
Occupancy Type
Service Station
Land Size
7,372 SQM
Building Area
1 SQM

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