High Yield Investment Within Valuable Capital City Zone!

For Sale - 115-119 Salmon Street, PORT MELBOURNE, VIC 3207

Investment (Industrial, Development/Land, Offices), Development/Land (Offices, Residential)

Overview

Property ID: 15281
Price: Contact Agent
Rent: $436,820 (ex. GST)
Building: 1888m²
Land: 2043m²
Zoning: Capital City Zone (CCZ) and Capital City Zone 1 (C

Description

Strategically positioned within the Fisherman's Bend Urban Renewal Precinct, this versatile premises comprises two premium quality office/warehouses with a premium quality fit out. In addition to being within such close proximity to the CBD, there is great access to the site provided by the West Gate Freeway and the nearby 109 tram.

Key Investment Features:
- Well established tenant Alliance Insurance Broking Services Pty Ltd
- Annual income $436,820.00 per annum increasing to $449,924.60 from 1st July 2019
- Seven (7) year lease with a further five (5) year option
- Demolition clause in the current lease enabling development opportunity.

Key Property Features
- Total building area: 1,888m2* incorporating 1,071m2* of high quality offices, breakout space, gymnasium and amenities
- Land area 2,043m2* with second street frontage to Rocklea Drive
- Capital City Zoning
- On site car parking for 17 vehicles
- Situated within "Fisherman's Bend Urban Renewal Precinct" offering potential for future multilevel mixed-use development (STPA).
- Signage exposure to the Westgate Freeway
- Short walking distance to Fishermans Bend, Pier 35, Yarra River, Princes Pier, Port Melbourne Beach, JL Murphy Reserve and Westgate Park

CVA Property Consultants are pleased to present this spectacular investment opportunity at 115-119 Salmon Street, Port Melbourne.

*Approx
Pricing excludes GST.

Plans & Documents

Additional Info

Features
Occupancy Tenanted: Alliance Insurance Broking Services
Suitable Development Multilevel mixed use
Permits Issued Na
Availability Subject to lease
Lease Term Seven (7) + Five (5) Years
Rent Review Annual 3% and market at the option
Commenced 1st July 2018
Bonds / Guarantees Six months bond or bank guarantee
Car Spaces Sixteen (16) + one (1) disabled on site car parking spaces
Car Parking Fees N/A
Outgoings
Outgoings Payable All outgoings payable by lessee subject to retail tenancy
Water Rates N/A
Owners Corp. / Insurance N/A
Other Charges N/A
Council Rates $13,175.30
Land Tax N/A

Agent Details

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