New Lease to Workwear Giant | Strategic Location & Huge Exposure
Key Investment Highlights
+ 5 year net lease to 2026, plus a further 5 year option to 2031
+ Totally Workwear: Australia’s largest network of service providers in workwear, uniforms, and safety gears with 88 stores nationwide and operating for 27+ years
+ Landlord-favourable net lease terms with tenant responsible for all outgoings excluding land tax
+ Annual rent increases, ensuring future rental growth
+ Immaculate and spacious 280sqm* retail shop to the latest Totally Workwear corporate tenant fit-out
+ Retail shop frontage and exposure 31+ metres
+ Prime position across the road from BP Service Station, McDonald’s and neighbouring Goodstart childcare and global fast-food pizza giant, Domino’s
+ Strategic location with enormous exposure to Frankston-Flinders Rd servicing 42,000+ vehicles daily
+ Investment includes additional income from the Telstra Mobile Tower on a 5 year lease plus options
+ Important 20 common car spaces on title
+ Significantly underlet at $225 p/sqm – market review in 2026
+ Across the road from the Tower Hill Shopping precinct, currently undergoing a full re-development and expected to be completed Aug 2023
+ Approved plans / permits (2018) for a 3 lot subdivision, now lapsed for purchaser's further dealings (STCA)
+ Frankston South: A major commercial, retail, education and transport hub servicing Southern suburbs and the Mornington Peninsula
+ Estimated Net Income: $73,740 pa + GST
To be sold by Burgess Rawson’s Investment Portfolio Auction
10:30am Wednesday 29 March 2023
Crown Casino Melbourne
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