The Golden Ticket: Long Term Lease in Busiest Precinct.

Sale Details

Sold on 01 Dec 2021 for $2,820,000

Description

POINT OF INTEREST:

**Auction On Site: Wednesday 1st December 2021 at 12 midday**

An investment offering that is positioned in the heart of Hoppers Crossing’s Golden Mile precinct that has a reputation as one of Melbourne’s leading showroom precincts. The strip has a notoriously low vacancy rate and is anchored by an abundance of national and household brands including Fantastic Furniture, Bunnings, and Autobarn just to name a few.

The exposure to 11.65 million passing cars annually and the influx of shoppers visiting the precinct leaves little doubt of the ongoing success of this investment opportunity.

The site has been serving loyal and new customers for the past 25 years and has committed to a further 6 year lease with further terms of 6 + 6 years providing a secure and long term income to the successful purchaser.

Points Worth Mentioning:
- 405 sqm* of open and closed building areas.
- 1,374 sqm* corner land holding.
- 11.65 million* passing cars annually.
- 22.2 km* from Melbourne CBD.
- 1.1 km* to Hoppers Crossing railway station.

Lease Summary:
- Income: $110,000 per annum net.
- Commencement: 25/10/2021.
- Lease Term: 6 years.
- Further Terms: 6 + 6 years.
- Annual increases: 3% per annum.

POINT OF VIEW:

Note for experienced and astute buyers: This will be the addition to your portfolio that requires minimal attention but holds extraordinary value. From the crowd favourite homemakers location to the extensive commuter exposure - Purple Octopus Multiwash is like picking up a valuable wildcard in the deck.

*Approx.
Pricing excludes GST