Long Term Lease, Freehold Title, Tightly Held Inner North Location: The Perfect Recipe.
POINT OF INTEREST:
To be sold via Public Auction on Friday 6th May 2022 at 12 midday on site.
Your investment portfolio is about to taste a whole lot sweeter with this industrial investment contributing to Melbourne’s future in food production. Sitting in Coburg North’s tightly held industrial pocket, this is corner freehold title of 925 square metres with 540 square metres of building area catering to the meticulous standards for food preparation. More specifically, within the floorplan is a 63 sqm* ground and first floor office for administration. On top of that 540 sqm* is an additional 177 sqm* mezzanine floor built for food production or storage with a 5KPA weight rating.
The facility features a high power capacity with its own sub-station built on site, a triple interceptor, and container-height loading capabilities for easy deliveries. Highly sought after and rarely found up front, this is capability and infrastructure that costs plenty of time and money to install already included. Connection to the rest of Melbourne is as simple as driving west 2.5 km* to Citylink, heading east for Nicholson Street, or the 19 tram can take you down Sydney Road at just 800 m* from site.
- Freehold title with corner position.
- Currently leased to Eastern Wise Food Service Pty Ltd.
- Returning $60,180 per annum net with a 2% annual increase.
- 10-year lease with 8.5 years remaining plus options.
- 540 sqm* building area.
- Plus 177 sqm* storage / production area with 5kpa weight rating.
- 925 sqm* land area.
- Industrial 1 zoning.
- 7 car spaces onsite.
- 1.6 km* from Merlynston railway station.12.9 km* from Melbourne CBD.
POINT OF VIEW:
The tenants, Eastern Wise Food Service, currently prepare food for 6 different restaurants they own around town. But with 8.5 years left to run on the current term, this is a garnish all investors love to see on the plate.
*Approx.
Pricing excludes GST