Colliers International and Killen Thomas are pleased to offer the opportunity to purchase a fully leased property to Australian Aluminium Finishing Pty Ltd at 38-40 Elliott Road, Dandenong South, Victoria, Australia.
The property comprises a land holding of some 8,388msqr which is situated to the southern side of Elliott Road, featuring an attractive lease covenant to Australian Aluminium Finishing Pty Ltd and situated in the well regarded south-eastern industrial precinct of metropolitan Melbourne.
Key selling points include;
- 100% leased to Australian Aluminium Finishing Pty Ltd on a recently renewed 6 + 5 + 5 year lease expiring 31 January 2022.
- Attractive lease covenant, with tenant having plants nationally within Victoria, New South Wales and Queensland.
- 5.7* year WALE (as at May 2016).
- Passing rental of $375,000 p.a. plus GST plus outgoings.
- Lease provides for fixed annual 3% rental increases, with market review upon exercise of option term.
- Strategic south-eastern industrial location with excellent connectivity to major roads and key infrastructure.
- Quality industrial improvements totalling 4,780msqr* with internal clearances ranging from approximately 6.5 metres* to 8.25 metres*.
- Land holding of 8,388msqr.
- Industrial 1 zone under the Greater Dandenong Planning Scheme.
- Historically low interest rate environment.
- Distinct lack of investment grade assets currently being offered to the market.
The property is being offered for sale via Expressions of Interest closing Thursday 9 June 2016 at 4.00pm.
For further information or to arrange an inspection please contact the exclusive selling agents.