17 Sir Laurence Drive, Seaford

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Wednesday, 8th March 2023

Quality Investment - Established Business for Over 25 Years

Nichols Crowder is delighted to offer this secure investment property for private sale.

Occupied since 2013 as the head office for Precision Light and Air (PLA) who are the supplier and manufacturers of small precision measuring equipment for the mineral processing and mining sector. The business has other offices in America and Asia and their equipment is used worldwide.

PLA are part way through a three (3) year lease term expiring October 2024 and have occupied the property for over ten (10) years. The current rental is a very modest $107,410 p.a. + GST + all outgoings (plus land tax) and is due for a CPI review later this year. Managed by Nichols Crowder, we can confirm the tenants have been excellent.

The lease provides for one (1) further term of three (3) years from October 2024 at which point there would be a market rent review.

Situated on 2,041sqm* of industrial 1 zoned land the total building area is approximately 1,147sqm* which includes 163sqm* of first floor office space. The building was constructed circa. 2002, predominately of precast concrete panels and has been kept in excellent condition.

Positioned on one of the most popular streets in Seaford. With two entrances off Hartnett Drive, Sir Laurence Drive is one of the widest streets ideal for trucks and has additional marked street parking.

This location has long been popular as it provides nearby (900m*) access to the Frankston Freeway and the recently opened Mordialloc bypass which then connects to the beginning of the Eastlink Freeway and only 1.8km* from the Peninsula Link freeway entrance.

Other building features include:

* Large/upgraded power supply (up to 160amps*)
* Two driveways and two oversized 5 meter x 5 meter roller doors
* 11 meter wide concreted rear driveway for parking and loading
* 19 on-site parking spaces, with additional curb side parking
* Toilet and kitchen facilities on ground and first floor
* Situated on its own block of land – no owner corporation (accessed by a carriageway easement)
* Additional mezzanine floor of 50sqm*
* Heating and cooling throughout all office areas

To discuss in more detail or to arrange an inspection please contact Josh Monks or James dodge.
(Contract of Sale, Vendors Statement and Lease available upon request)

PLEASE NOTE:

* All information and measurements are approximates. All images subject to copyright. Unauthorised use is strictly prohibited.

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