2, 127 Merrindale Drive, Kilsyth, VIC 3137

Retail

Sold

  • Property ID: 440686
  • Floor Area: 142m²
  • Land Area: 818m²
Sold / Leased Results

Name Result Date Floor Land Result Price
Total Sold 15/03/2024 142m2 818m2 Contact Agent
LAND RICH INVESTMENT WITH ALL THE TRIMMINGS

POINT OF INTEREST:
Commercial precincts aren’t run by their CEOs, it’s the cafés within them that fuel the productivity — and Industrie has been operating and sandwich-slinging here since 2007 and have keenly signed a fresh lease agreement with $48,300.64 + GST hitting your pockets annually, on a 3+3+3-year term with 3.5% annual increases.

The land comes in at a generous 818 sqm*, but the modern building is fully tiled and open plan, with floor-to-ceiling windows for natural light and a concreted courtyard dining area. The commercial kitchen has all the amenities you’d expect with a service area including a glass cabinet, complete perimeter fencing and security gates, and 12 on-site car spaces for customers who aren’t on foot.

Situated between Dorset and Canterbury Roads, you’re also on the corner of your block where neighbours like Denso Automotive Systems Australia, Sugar Australia and De Bortoli Wines need their caffeine fix. Outside of the obvious neighbourhood investment, there’s the postcode one too — where the Eastlink is only 6.4 km* away, Croydon railway station is 3.6 km*, and Canterbury Gardens (including the Woolworths) is only a kilometre from the site.

- Leased to Alavad Pty Ltd trading as Industrie Café
- Rental $48,300.64 per annum + GST and outgoings
- Renewed 3+3+3 year lease from 31st December 2023
- 3.5% fixed annual increases + market review at options
- Long term established Café since 2007
- 142 sqm* total building area
- 818 sqm* total land area
- 12 allocated car parks on site
- 900 m* to Dorset Road
- 2.4 km* to Canterbury Road

POINT OF VIEW:
Good investors get an industrial asset within a prominent estate, but astute investors get the hospitality asset that the precinct relies on. This tenanted corner will barely hit the display cabinet before being snapped up.


*Approx.
Pricing excludes GST

Additional Information
Features
  • Lease Term: 3 years + 3 years + 3 years
  • Rent Review: 3.5% annually, Market review at the options
  • Car Spaces: Allocated onsite car parking
  • Condition: Very Good
  • Air Conditioning: Yes
  • Floors: Concrete/tiles
  • Lifts: N/A
  • Height: 2.7 meters
  • Age: 17 years approx.
  • Car Parking Fees: Including in rental
Outgoings
  • Water Rates: $1,400 p.a approx.
  • Land Tax: $1,860 p.a approx. (Single Holding)
  • Council Rates: $2,472 pa approx
  • Owners Corp. / Insurance: N/A
Kilsyth Suburb Profile

Average Advertised Price
Property Type Price (m²) Rent (m²/p.a.) Yield
Offices $2532 --- ---
Retail $2532 --- ---
Industrial $3607 $106 2.95%
This is the average advertised price, rent and yield for Kilsyth, VIC 3137*

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

Days on Market data for Retail 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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