For Sale, Hot $8,200,000 - Commercial
Offering its Melbourne office/retail building for sale by leaseback
The premises was completed in mid-2019 and comprises a generous multi-purpose retail display gallery on the Ground floor with corporate quality open plan office space/meeting rooms located on the First floor of a multi-story building.
The vendor has instructed a sale price $8,200,000. Terms negotiable
– Interest Offered: Freehold Interest / Strata Title
– Total Net Lettable Area (approx): 934 sqm (Ground: 400 sqm; First: 535 sqm)
– Car parking: Seven (7) secure onsite undercover Ground level car spaces*.
– Occupancy: 100%
– Initial Lease Term: 10 (ten) years
– Lease Commencement Date: December, 2019
– Option Term: Five (5) years
– Est. Net Passing Income (Year 1): $427,000.00 per annum + GST
– Lessor Outgoings (approx.): $3,126.81 (Land Tax)
– Lessee Outgoings: All rates, taxes and levies
– Rent Review – Basis & Frequency: 3% per annum and rent review to market at start of Option term.
– Lessor Lease Guarantee: Equivalent to 12 months net rental
Key Investment Highlights
– Secure leaseback
– No vacancy for initial Lease Term.
– Stable income stream with guaranteed rental growth.
– Low management and maintenance.
– Tenant to pay for all rates, taxes and levies, providing a solid net return to the owner.
CONTACT AGENT ON 0422 060 234 / (03) 9663 0988 FOR FURTHER DETAILS.