National Long Standing Tenant, Profile Position & Future Development Upside.
POINT OF INTEREST:
A prime freehold investment that will serve you well for the coming decades. As one of Repco's top performing stores who have been in occupation since 2012, you can almost guarantee a lease in place to 2032. And will a huge impending development upside as part of the East Village Development Precinct Structure Plan, the trajectory of this site is only going in one direction - four plus level up!
- Currently leased to National tenant Repco since 2012.
- Long standing tenant GPC (Repco) with current lease to November 2027 with 5 year option.
- Current Lease Value: $169,978 per annum.
- Tenant currently pays all outgoings including Land Tax.
- Total building area: 885 sqm*
- Total land area: 1,532 sqm*
- Exceptional future development upside for multi level commercial office as part of the East Village Structure Plan. 4+ level height limit (Subject to council approval).
- Over 21.5 million passing cars annually, 36,000 passing cars daily (Vic State Govt Data 2020).
- Looking over The Duncan Mackinnon Reserve, and close proximity to Virginia Park, GESAC, and Bentleigh East retail strip.
POINT OF VIEW:
A set and forget investment ready to role out the development plans on perhaps in 2032. Or simply continue allowing your tenant to enjoy over 21.5 million eye balls on their retail brand each year!
*Approx.
Pricing excludes GST