Sold

10 YEAR LEASE + OPTION TO 2032 - SIGNIFICANT UNDERLYING LAND VALUE & FUTURE RENTAL UPSIDE

468-472 Princes Highway, Noble Park VIC 3174

10 YEAR LEASE + OPTION TO 2032
FIXED 3% RENT INCREASES/TENANT PAYS OUTGOINGS EXCEPT LAND TAX
HIGH PROFILE 5,779 SQM LANDHOLDING

Secure 10 year lease to 2027 plus option to 2032
In2Performance: World renowned training facility with huge active membership base
Strong and certain income growth with fixed, annual compounding 3% rent increases
Landlord favourable, set-and-forget net lease structure with tenant responsible for all usual outgoings excluding land tax
Major 5,779 sqm* landholding with 168 metres* of combined frontage and exposure to Princes Highway and Overseas Drive, two main arterial roads servicing over 45,000 vehicles daily**
Versatile Commercial 2 Zoning (C2Z) with significant development upside
Imposing 3,300 sqm* state-of-the-art facility with ample on-site car parking
Strategic Metro-Melbourne location just 25km* from Melbourne CBD
Situated within close proximity to various high-profile national tenants, with Coles, McDonald’s, KFC, Domino’s Pizza, 7-Eleven, Chemist Warehouse & Harvey Norman all within 1.5km*
Surrounded by important social infrastructure, including 25 schools within 3km servicing over 13,000 full time students**
Greater Dandenong: Fast growing region, with population forecast to grow 22% to over 205,000 by 2029***
Geographical significance of the area evident through ongoing government funded development projects the $600 million Dandenong Central Revitalisation Project will deliver over 500 new dwellings, community spaces, retail opportunities and entertainment district***
Net Income: $253,563 pa* + GST

For Sale by Investment Portfolio Auction
10:30am (AEDT) Wednesday 11 May 2022
Crown Casino - River Room

*Approximately
**GapMaps
***Greater Dandenong Council

Sold By

Frank Vinci

Direct: +61 3 9662 2025

Mobile: 0418 375 375

Email: [email protected]

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