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903 Nepean Highway, MORNINGTON, VIC, 3931

+17 Photos

+19 Photos

SOLD

903 Nepean Highway, MORNINGTON, VIC, 3931

Properties / Sold / Victoria / Mornington

Tenanted Investment

1. Property Summary

Selling Method

Auction

Selling Details

Price on Request

Land Area

2,204 m² (*approx)

Floor Area

726 m² (*approx)

Property Type

Retail, Other, Industrial

Est. Income

$203,384 p/a

Show All

2. Property Highlights

Autobarn Freehold with Value-Add | Autobarn's Only Store on the Mornington Peninsula

Trophy 2,204sqm* landholding
Very low 34% site coverage*
Fixed 3.5% annual rent increases

Trophy 2,204sqm* corner landholding with very low 34% site coverage*.

High profile Nepean Highway position with 29,290* vehicles passing daily (1).

The only Autobarn store on the Mornington Peninsula, with a growing population of 168,990 (2).

The Autobarn brand is owned by Bapcor (ASX: BAP), a retail network of over 1,000 stores including stablemates AutoPro, Midas, Burson and ABS Brakes.

Bapcor Retail recently announced 2 year profit growth of 58.83%.

Current lease and options expire in February 2031, providing potential to expand and/or add-value STCA.

Fixed 3.5% annual rent increases providing strong and certain growth.

Prime retail position within 350 metres of Toyota, Ford, Kia, Mazda, McDonald's, KFC, Hungry Jack's, Bridgestone, Kennards and Petbarn.

Mornington: booming sea-change and tourism destination with 8% forecast population growth by 2036 (2).

Net Income: $203,384pa + GST

For Sale by Investment Portfolio Auction

10:30am (AEDT) Wednesday 14 September 2022

Crown Casino - River Room - Melbourne

*Approx

1. GapMaps

2. id

Remember to mention you found this property on CommercialReady