3, 65-71 Heatherdale Road, Ringwood, VIC 3134

Industrial

Sold

  • Property ID: 429599
  • Floor Area: 280m²
Sold / Leased Results

Name Result Date Floor Land Result Price
Unit 3 Sold 31/07/2023 280m2 N/A Contact Agent
A LONG STANDING TENANT EQUALS A LONG STANDING RETURN.

POINT OF INTEREST:

**THIS CAMPAIGN HAS NOW CLOSED. OFFERS ARE UNDER REVIEW.***

You’ve found it: the asset-needle in the investment-market-haystack. This is an offer that ticks every box, adds more to the list, then ticks that too. Long term security, hard-to-find affordability and a tightly-held location. If these are your criteria, then this investment opportunity may just be the one for you.

Leased to Eastern Window Tinting Pty Ltd trading as well known Australian brand Tint-A-Car, who have just signed a new five-year lease in February 2023, and have been occupying this premises for over 10 years. And with that lease renewal comes a $36,000 per annum income and guaranteed annual increases of $3000 each year (8.3% p.a approx.) so you can sit back and let those numbers continue to tick over.

The well-maintained building is currently set up to feature a light-filled reception area, storeroom, staff amenities and air-conditioned office space complimenting a clear span warehouse area serviced by a glass flip door system with great vehicle access in addition to four car spaces on title. Only a handful of properties in the estate and all with Heatherdale Road exposure and frontage.

With the tightly-held suburb of Ringwood rated as a Tier 1 Commercial zone and industrial and commercial supply in this area notoriously low, there is exceptional access via Eastlink, Canterbury Road and public transport all adding to the calibre of the opportunity.

- Total Building Area: 280*sqm
- Leased to Tint A Car in occupation for over 10 years.
- Renewed 5 year lease (February 2023).
- Leased income: $36,000 per annum.
- Security Bond: 2 months + GST.
- Annual increases: fixed $3000 per year (8.3% p.a. approx).

POINT OF VIEW:

We’ve saved you the trouble of looking for that perfect portfolio addition. With a 10 year plus tenant, new 5 year lease and large built-in rent increases this one is as good as it gets at a price point.

*Approx.
Pricing excludes GST

Additional Information
Features
  • Availability: Subject to a lease
  • Lease Term: 5 years with no further options.
  • Rent Review: $3000 increase per annum on previous years rental.
  • Car Spaces: 4 car spaces on title.
  • Condition: Excellent.
  • Air Conditioning: Yes
  • Floors: Concrete
  • Lifts: NA
  • Height: 6.5 metres approx.
  • Car Parking Fees: Nil.
Outgoings
  • Water Rates: $900 per annum approx.
  • Land Tax: No land tax payable.
  • Council Rates: $2,042 per annum approx.
  • Owners Corp. / Insurance: $3,496 per annum approx.
Ringwood Suburb Profile

Average Advertised Price
Property Type Price (m²) Rent (m²/p.a.) Yield
Industrial $4480 $197 4.41%
Retail $8154 $301 3.70%
Offices $4787 $321 6.71%
This is the average advertised price, rent and yield for Ringwood, VIC 3134*

Days on Market
Time between initial ad placement and the listing’s withdrawal

Days on Market data for Industrial in VIC for Sale

The spread of Days on Market is summarised into 4 time-bands (or quartiles) for each segment.
Understanding market expectations is skewed towards examining changes in the shortest duration quartile (fastest 25%)

Transactions per Month

* Excludes, where applicable, GST, outgoings and incentives. Values calculated based on the prices advertised by the agencies that list their properties on Commercial Property Guide.

Property Detail Notes:

  • 3rd Party Content - The information displayed on this page is supplied by registered real estate agents and other third parties. For questions regarding the information that appears here please contact the agent that is listed.
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