TENANTED AND GIGANTIC: HALLAMS MAIN (ROAD) INVESTMENT.
For Private Sale by Closing Date Wednesday 15th May at 12pm
POINT OF INTEREST:
Anchored to the main road with no qualms in stretching out, this is Hallam’s best tenanted investment offering with enough space to warrant future development plans. Current tenant, Immix, successfully won the leasing battle after 5 offers were received simultaneously to move in on the 8th of August 2022, beginning their five-year term with another five-year option to follow. They’re paying $295,000 per annum net for the privilege, which will increase to $305,000 per annum net in leasing income as of August 2024.
The front of the property has strength in numbers with 13 car spaces, loading areas that lead to four roller doors, and 36 m* of frontage directly facing the bustling junction of Abbott Road and Hallam South Road. The rear of the property includes excess land of 2,031 sqm* that is crushed rock for tidy external storage all serviced by a further three roller doors and two driveways off Hallam South Road. The building itself is split into functional warehousing of 788 sqm* and a ground floor office of 122 sqm* with an additional mezzanine storage area out of the way.
The many connecting arterials here make for a well-oiled Hallam machine; the M1 is only 1.4 km* away and can get you into the city in under an hour, while Hallam railway station sits 800 m* from the site and will get you to the same destination in a similar amount of time.
- Leased to Immix Property Group T/A Immix Metal Recycling Management
- Income: $305,000 per annum net as of 8th August 2024. Current $295,000 pa net (All outgoings payable by the tenant including Land Tax).
- Commencement: 8th August 2022
- Lease Terms: 5 + 5 Years
- Valuable permit in place for Metal Recycling that stays with the building. Very hard to obtain.
- 910 sqm* total building area.
- Including 122 sqm* office area.
- 4,011 sqm* total land area.
- Industrial 1 zoning.
- 36 m* of frontage.
- 13 car spaces on-site.
- 800 m* from Hallam railway station.
- 1.9 km* from South Gippsland Freeway.
POINT OF VIEW:
Sandwiched between Dandenong and Narre Warren — suburbs living in the glow after their commercial and infrastructure boom — is exactly why you won’t find land area of this size (or calibre) until you hit Hastings! Secure this land unicorn with a quality tenant in tow.
*Approx.
Pricing excludes GST