DOUBLE-TAKE, THEN TAKE IT FOR YOURSELF.

Sale Details

Sold on 23 Aug 2023 for $3,050,000

Description

POINT OF INTEREST:
The flagship of industrial assets that boasts a hat-trick in commercial criteria; this is the best in investment, location, and future development potential (STCA). Amongst the prized Airport West postcode lies this brick constructed sawtooth factory, warehouse, showroom, and office hybrid, made up of 1,207 sqm* of land with 948 sqm* of building. Wasting nothing by stretching to the street boundary, dual roller shutter doors front Webb Road with an additional third Roller Shutter door providing access to a rear yard area. Taking a look inside, the large open plan warehouse provides a height of 7 metres* to the highest point and 4.4 metres* of clearance to the lowest point of the building. There’s a ground floor area to welcome clients incorporating a generous showroom/reception plus two partitioned lighted filled offices with street facing windows.
And for developers in the market looking for something entirely different, the commercial 1 zoning stretches the scope past the current use. A completed five-level residential apartment building with supporting ground floor retail and a proposed 10 level development located opposite only goes to prove that Airport West is a suburb on the rise.

It’s a location so simple to get visit. Multiple arterials like Citylink and the Tullamarine Freeway are your preferred choice by car or take the No 59 Tram from Matthews Avenue to the end of the line at Flinders Street Station. It’s why household names like Westfield, Officeworks, DFO and Essendon fields Auto, all choose to call this area home. And a new lease with established tenants Direct Pickets provides rental income over the next three years for investors and allows time to plan for the next evolution of this dynamic site.

The Property
- 948 sqm* total building area.
- 1,207 sqm* total land area.
- Commercial 1 Zoning with a freehold title.
- Multiple roller shutter doors and dual driveways.
- Practically sitting at the entrance Tullamarine Freeway and Citylink.
- 400 m* to Westfield Airport West.
- 2 km* from Calder Freeway.
- 4 km* to Tullamarine Airport.

The Investment
- Leased to Baymanor Pty Ltd trading as Direct Pickets
- $150,000.00 per annum plus outgoings and GST
- Three year lease commencing 1st August 2023
- 3% increases at the anniversary of each year
- Four months security Bond plus director guarantee

POINT OF VIEW:
An opportunity with appeal to both future developers and savvy investors positioned right in the heart of Melbourne’s take-off district.

*Approx.
Pricing excludes GST