Investment Opportunity: Spectacular Building with Solid Tenant
Nichols Crowder is proud to present an investment opportunity that offers significant upside potential. This brand new stand-alone/freehold property, located in Carrum Downs, is expected to meet the requirements of even the most discerning investor.
Key features include:
* Land size: 2,729sqm*
* Zoning: Industrial 1
* Additional external canopy: 250sqm*
* Building height: up to 9.2m*
* Warehouse floors: epoxy coated
* Steel tubular fencing with motorised gates
Lease Details:
* Lease term: 6 years plus options
* Current rental: $174,337 p.a. (plus GST and outgoings)
* Established company with great references
* Full depreciation allowances of a newly constructed building
Rental Growth Potential: The property was leased “off the plan” over twelve months ago at a modest rental rate of $108 per sqm. However, market rentals in the area have increased to approximately $130 per square meter. This suggests ample room for rental growth in the future, providing an opportunity for increased returns.
Below Market Replacement Cost: The property is being offered for sale below its market replacement cost, which adds to its attractiveness as an investment opportunity. Acquiring the property at a price lower than what it would cost to replace it in the current market can provide potential capital appreciation in the future.
Location Highlights: Carrum Downs has experienced a surge in popularity due to improved road infrastructure, including the upcoming completion of the Lathams Road (duplication) Upgrade and the new Mordialloc Bypass. The property’s location offers excellent accessibility, with easy connections to Eastlink, Peninsula Link, and Frankston-Dandenong Road. Additionally, it is less than a 10-minute drive to the Dandenong South Industrial precinct, making it a strategic position for businesses. Moreover, it is the closest major industrial precinct to the rapidly expanding Mornington Peninsula.
For further information or to arrange an inspection of the property, please contact:
Josh Monks
James Dodge
PLEASE NOTE:
* All information and measurements are approximates. Please refer to Contract of Sale and/or Lease documentation. All images subject to copyright.
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