A Substantial Inner West Opportunity Knocks.

Sale Details

Sold on 29 Mar 2022 for $6,400,000

Description

POINT OF INTEREST:

Expressions Of Interest Now Closed. Offers Under Consideration.

A niche asset? This couldn’t be further from it. This is a versatile inner west opportunity for investors & developers alike to secure a substantial land holding with major development potential and with excellent improvements & hardstand in Melbourne’s west. Situated 8 km* from the CBD, we’re in the heart of Spotswood and minutes away from the Westgate Freeway.

As a corner position and with 4,792 sqm* of Industrial 3 zoned land, the premises features multiple loading bays, and a combination open plan and partitioned offices across two levels and warehouse areas at it’s rear. Currently leased to Melbright Coaches until 30th December 2023 with 5 year option. this investment brings in close to $127,574 per annum. However, if you’re interested in developing the asset there is a 12-month early termination clause in the 5 further term.

- A substantial commercial development opportunity.
- 1,256 sqm* building area.
- 4,792 sqm* land area.
- Industrial 3 zoning.
- Ample car spaces onsite.
- Currently leased to Melbright Coaches Pty Ltd.
- Current income: $127,574 per annum net
- 5-year lease agreement expiring 30th December 2023.
- Additional 5-year lease renewal option.
- 12-month early termination clause in the lease from the commencement of the 2nd term for occupiers / developers to exercise where required.

POINT OF VIEW:

If you have the vision, this property can deliver in many different ways. And if you prefer pick up, the neighboring Grazeland Food Truck Park's got you covered, as well as Two Birds Brewery and Hudsons Road wine bar just foot steps away.

*Approx.
Pricing excludes GST