New 5 Year Lease to Leading Pilates Studio | KX Pilates Established 2010, 90 Locations and Growing

Description

Ray White Commercial Glen Waverley and Burgess Rawson is pleased to offer to the market KX Pilates Mentone for sale via Portfolio Auction Investment 170.

The property has the following investment highlights:
+ New 5-year lease to January 2028 plus option to 2033 to leading pilates studio established circa 2017.
+ Successful franchisee with numerous studio locations.
+ Annual fixed 4% increases.
+ Investor preferred net lease terms with the tenant responsible for all outgoings as per the lease.
+ KX Pilates: Commenced 2010 and reputable modern exercise operator with 90 locations across Australia, New Zealand & Singapore.
+ Building Area 150sqm*
+ Two onsite car spaces & amp; storage cage on the title
+ Unsurpassed exposure from busy intersection of Nepean Hwy and Warrigal Rd. Situated in this prestigious “Archer’ by Pace Development Group, and designed by Jackson Clements Burrows.
+ Excellent investment for the passive investor & superfund purchase.
+ Immaculate presented retail premises.
+ Household spending per capita on retail services in Mentone is 23% greater than the Victorian average.
+ Supported by important social infrastructure including 16 schools, servicing over 11,700 full-time students within a 2.5km radius*
+ Residential building approvals in the City of Kingston have grown by 10.4% between FY21 and FY22.****
+ Strong trade catchment with a total population of 61,000* within a 3km radius of 1 Balcombe Road*****
+ Mentone: booming bayside suburb, 21km from the Melbourne CBD. Median house price $1,470,000, up 17.4% in the last 12 months and a population growth forecast of 23%+ by 2041.***
+ Net Income: $62,400 pa* plus GST (current)
+ Net Income $64,896 pa’ plus GST (Jan 2025)

For Sale via Portfolio Auction Investment 170
10.30am (AEST) on Wednesday, 7th August 2024
Crown Casino, Melbourne

* Approx
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Enquire

Contact agents
Raoul Holderhead Partner
0413 860 304
Matthew Wright Partner
0458 290 588
Enquiry Form

Mentone, VIC

Suite 1/ 9 Balcombe Road

For Sale by Portfolio Auction
Wednesday 7th August 10:30AM Crown Casino - River Room - Melbourne

This property is part of Portfolio 170

Price: Contact Agent

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