One Investment, Three Income Streams, Future Value Add
Moorabbin is now an established residential location in Melbourne’s Bayside, with a rapidly growing commercial precinct attracted by excellent retail and corporate office buildings.
Lifestyle amenities are a plenty with gyms, cafes, restaurants, bars and barbers all on the doorstep here. Situated directly opposite Moorabbin train station and bus station with direct exposure to south bound Nepean Highway traffic, it certainly measures up!
We are pleased to present to market this impressive refurbished commercial building featuring three tenancies, all with new long term leases in place and future value add potential by adding additional floors and increasing the rent to market levels. The new rentals are below market for such a well-located building which gives a new purchaser the rare opportunity to buy a set and forget investment knowing that there will be future upside in the rentals.
Tenancy features are:
GROUND FLOOR: Cafe/Restaurant
– Leased to Comma Tapas Bar
– Net rental: $36,000 p.a. ($192psm)
– Lease terms: New 7 year lease until 2027 plus option
FIRST FLOOR: Corporate office
– Leased to Win Align Moorabbin Pty Ltd trading as Align Property Partners
– Net rental: $36,000 p.a. ($192psm)
– New 3 year lease until 2024, plus 3 year option
SIGNBOARD: Super site
– Leased to Fortis Motor Group
– Net rental: $20,400 p.a.
– New 2 year lease, plus 2 year option
Investment Summary:
* Total net income: $92,400 p.a.
* Total building area: 374sqm*
* Site area: 212sqm*
* Frontage: 23.7m*
* Activity Centre Zone
* Complete cash cow with huge rental growth
For further details or to arrange an inspection please contact:
James Glen 0401 493 277
Julian Vautin 0420 406 660
PLEASE NOTE:
* Inspections are carried out in accordance with strict Covid-19 Directions. For further details contact the Estate Agent.
* All information and measurements are approximates. All images subject to copyright. Unauthorised use is strictly prohibited.
