7 Phillip Court, Port Melbourne, VIC, 3207

Colliers are pleased to offer 7 Phillip Court, Port Melbourne for sale.

7 Phillip Court comprises a modern 1,500sqm* warehouse set on a 1,728sqm Industrial 1 zone landholding just 3km* from the Melbourne CBD and within close proximity to major arterial roads in CityLink, Westgate Freeway, and Monash/M1.

Leased to Pet Resorts Australia – one of the largest pet accommodation operations in the country with 10 locations nationwide – on a 10 year term with 3 further 10 year lease options through to 2063, 7 Phillip Court offers buyers security of income rarely seen in the market, with a current rent of $332,615 per annum (excluding outgoings & GST) and sustained rental growth throughout the term due to the favourable inclusion of fixed 3.5% annual rent increases.

- Long-term investment opportunity leased to national tenant

- $332,615 per annum rent, with significant rental growth due to fixed 3.5% annual increases during the lease term

- 10-year lease term commenced 30 August 2023, with three (3) further 10-year options to 2063

- 1,738sqm* Industrial 1 Zone landholding just 3km from the Melbourne CBD

- 1,500sqm* warehouse with comprehensive pet accommodation fit-out (owned & maintained by the tenant)

- On-site parking for 14 vehicles

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