IT TAKES AN INVESTOR TO TANGO

Auction – Leased Investment - 2 Nurlendi Road, Vermont

Investment opportunity, Development/Land (Offices, Retail, Industrial, Showroom, Residential), Retail, Industrial

Overview
Property ID: 19115
Price: Contact Agent
Rent: $30,461 (ex. GST)
Building: 253m²
Land: 484m²
Zoning: Commercial 1
Auction
2/06/2022 12:00 PM
Add to Calendar 02/06/2022 12:00 PM 02/06/2022 12:00 PM Australia/Melbourne Auction – Leased Investment - 2 Nurlendi Road, Vermont IT TAKES AN INVESTOR TO TANGO Stan Dawidowski [email protected] false DD/MM/YYYY akKqZLDfczNDwEvbmmHA24960
Description

POINT OF INTEREST:
Auction Thursday 2nd June at 12 noon on site
Open for Inspection this Thursday 19th May at 2pm - Attendance registration required

This is Vermont’s prized asset on any portfolio; the perfect landbank with income. You’re acquiring 253 sqm* of building sitting on 484 sqm* of freehold land, with an industrial-style warehouse. Currently, it’s tenanted by the Eastern Cheer & Dance Academy who have been occupying the space since 2018, returning $30,460.56 per annum net. A direct street frontage of more than 13.7 m* to Nurlendi Road and right of way access to the Northern boundary are ideal elements for future development of the asset, while also sitting adjacent to the Canterbury Road commercial precinct. Holding income means you can either let the value speak for itself on your portfolio, or it’s a useful buffer before developing something for a mixed-use residential and/or commercial market. With allocated parking onsite, less than 50 m* from Canterbury Road, and walking distance to the 736/735 bus; this is an income-lining opportunity with show-stopping potential.

- 253 sqm* building area.
- 484 sqm* land area.
- Commercial 1 zoning.
- Within the "Vermont Village Shopping Centre" precinct specifying a preferred maximum development height of 18m (5 storeys)
- 4 car spaces onsite.
- Returning $30,460.56 per annum net.
- Currently running within a 5-year contract until January 2025, together with an option of renewal for 5 years.
- 2 km* from Mitcham railway station.
- 20.4 km* from Melbourne CBD.

POINT OF VIEW:
This is an asset that knows what the judges are looking for and receives perfect 10s in return. Vermont is the ideal blend of residential and commercial, and this pocket boasts top-shelf amenities — making it a local-crowd favourite.

(Business as usual for Eastern Cheer and Dance Academy)

*Approx.
Pricing excludes GST

Additional Info
Features
TenancyEastern Cheer and Dance Academy Pty Ltd
Lease Term5 + 5 Years
Commenced17th January 2020
Rent ReviewAnnual CPI, market at option
Bond/GuaranteesBank Guarantee equivalent to 2 months rental plus GST
Outgoings PayableTenant
Agecirca 1960/70's
AvailabilitySubject to lease
Car Parking FeesNA
Car Spaces4 on site
ConditionVery Good
FloorsConcrete
HeightVarious
LiftsNA
Roller DoorsYes
Suitable DevelopmentResidential and / or commercial
ZoningCommercial 1
Outgoings
Council Rates$1,326.45
Land Tax1,830.00 (single holding)
Agent Details
CVA Property Consultants - Stan Dawidowski

Stan Dawidowski

M | 0400 448 755
T | (03) 9623 2556
E | [email protected]

CVA Property Consultants - Jarrod Moran

Jarrod Moran

M | 0413 251 621
T | (03) 9623 2589
E | [email protected]

CVA Property Consultants - Ian Angelico

Ian Angelico

M | 0418 336 088
T | (03) 9623 2578
E | [email protected]

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