191 - 193 Old Geelong Road, Hoppers Crossing, VIC 3029

Industrial | Retail | Showrooms

Sold

  • Property ID: 402150
  • Floor Area: 405m²
  • Land Area: 1374m²
  • NBN Availability: Service Available - Fibre to the node (FTTN)
Sold / Leased Results

Name Result Date Floor Land Result Price
Total Sold N/A 405m2 1374m2 Contact Agent
The Golden Ticket: Long Term Lease in Busiest Precinct.

POINT OF INTEREST:

**Auction On Site: Wednesday 1st December 2021 at 12 midday**

An investment offering that is positioned in the heart of Hoppers Crossing’s Golden Mile precinct that has a reputation as one of Melbourne’s leading showroom precincts. The strip has a notoriously low vacancy rate and is anchored by an abundance of national and household brands including Fantastic Furniture, Bunnings, and Autobarn just to name a few.

The exposure to 11.65 million passing cars annually and the influx of shoppers visiting the precinct leaves little doubt of the ongoing success of this investment opportunity.

The site has been serving loyal and new customers for the past 25 years and has committed to a further 6 year lease with further terms of 6 + 6 years providing a secure and long term income to the successful purchaser.

Points Worth Mentioning:
- 405 sqm* of open and closed building areas.
- 1,374 sqm* corner land holding.
- 11.65 million* passing cars annually.
- 22.2 km* from Melbourne CBD.
- 1.1 km* to Hoppers Crossing railway station.

Lease Summary:
- Income: $110,000 per annum net.
- Commencement: 25/10/2021.
- Lease Term: 6 years.
- Further Terms: 6 + 6 years.
- Annual increases: 3% per annum.

POINT OF VIEW:

Note for experienced and astute buyers: This will be the addition to your portfolio that requires minimal attention but holds extraordinary value. From the crowd favourite homemakers location to the extensive commuter exposure - Purple Octopus Multiwash is like picking up a valuable wildcard in the deck.

*Approx.
Pricing excludes GST

Additional Information
Features
  • Availability: Immediate
  • Lease Term: Six (6) Years
  • Rent Review: 3% Per Annum
  • Car Spaces: On site.
  • Condition: Excellent
  • Floors: Concrete
  • Lifts: NA
  • Height: Various
  • Car Parking Fees: Nil.
Outgoings
  • Water Rates: $1,016.63 P.A approx. plus usage.
  • Land Tax: $2,975 P.A approx.
  • Council Rates: $5,712.30 P.A approx.
  • Owners Corp. / Insurance: Building Insurance: $3,700 P.A approx.
Hoppers Crossing Suburb Profile

Average Advertised Price
Property Type Price (m²) Rent (m²/p.a.) Yield
Retail $5432 --- ---
Offices --- $271 ---
Industrial $2621 $115 4.37%
This is the average advertised price, rent and yield for Hoppers Crossing, VIC 3029*

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:

  • NBN Availability - Where this address stands within the nbn™ rollout. Possible statuses: Not currently available, Build preparation, Build commenced, or Service Available. Information provided by nbn™.
  • 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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