A 30 year tenant ... Something you can count on. - Under Offer
POINT OF INTEREST:
A purpose-built office building that has been occupied by the current tenant since 1992 — read: safe. With 392 sqm* of land and 370 sqm* of building across two titles, the opportunity doesn’t just end at the tenant’s occupation (with ink still wet on a fresh lease), but the Commercial 1 Zoning for potential in the years to come. Both titles have two car parks and are accessed at the rear of the property — and speaking of access, the property is located just 1 km* from the Wellington Road exits of the Monash Freeway and is connected by major thoroughfares like Springvale and Wellington Roads.
Lease Summary:
- Current tenant "Coster Galgut" has occupied building since 1992
- 80% of total building leased to current tenant at $68,652pa* ++
- New 3 +3 + 3 year lease signed 16th July 2021
- CPI reviews, market at option
- Security bond of $10,000
Points Worth Mentioning:
- Fully leased potential of $89,000pa* ++
- Land size totaling 392 sqm* across two titles
- Combined building area 370 sqm*
- Commercial 1 Zoning
- Future development upside potential
- Rear ROW four (4) on-site car parks
- 1 km * from Monash Freeway
POINT OF VIEW:
When it comes to investments, they don’t come sounder than this. Blending all aspects of a profitable investment that includes two freehold titles, a 30-year tenant that has stood strong and recently signed a new lease — everything makes sense — now it just comes down to dollars.
*Approx.
Pricing excludes GST
Remember to mention you found this property on CommercialReady.com.au
