Landmark 7,372sqm Metro Melbourne Convenience Retail Investment


+ 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

** United Petroleum
*** Mazo
**** Gapmaps
***** Remplan &
******* Transurban

Do you own a similar property?


Contact agents
Jamie Perlinger Head of Agency | Partner
0413 860 315
Rick Jacobson Sales Executive
0413 830 083
Matthew Wright Partner
0458 290 588
Zomart He Partner
0488 220 830
Enquiry Form

Altona North, VIC

650 Kororoit Creek Road

  • Sold Price: Contact Agent

This property was sold as part of Portfolio 152

Contact agents