Freehold Investment with Upside
Nichols Crowder is delighted to offer this property for sale by Expression of Interest Closing 3pm on Thursday 16th December.
Positioned on one of the most popular streets in Seaford and within the tightly held Hartnett Drive industrial and trade supplies precinct.
Situated on 2,021sqm* of industrial 1 zoned land the total building area is approximately 1,213sqm and the tenants have just renewed their lease for a further three (3) years commencing 16 November 2021.
Total rental return $93,150 (Net) + GST (from Nov 2021) which is a very modest $77per sqm* leaving plenty of growth potential to meet market rental averages.
The lease agreement also benefits from annual fixed 3% rental increases and the tenant pays 100% of outgoings.
Other building features include;
* Ground floor showroom and 75.5sqm* of first floor office
* Fully fenced with dual crossovers onto Sir Laurence Drive
* 22 on-site parking spaces, with additional curb side parking
* Two container height roller doors.
This location has long been popular as it provides direct toll-free access to The Mornington Peninsula Freeway which then connects to the beginning of the Eastlink Freeway.
The location will further be enhanced by the soon to be open Mordialloc Freeway which interconnects with the Mornington Peninsula Freeway.
To receive further information (including the Contract of Sale, Vendors Statement & Information Memorandum) or to arrange an inspection please contact Josh Monks 0409 335 179
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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