Premium Investment with Norcal's Newest Lease!

Sale Details

Sold on 17 Oct 2023 for $2,800,000

Description

POINT OF INTEREST:
This modern industrial asset is certain to pique the interest of investors who have eyed Norcal Road’s ballooning popularity and diminishing openings. Freshly leased to an established commercial kitchen equipment supplier returning $124,000 pa, this is an investment that's cooking up success and serving solid returns. The building itself is an impressive office/showroom spanning two levels, with access to the warehouse via a container-height roller door boasting an internal height of approximately 7.5 m*. The ground floor also hosts a waiting area, a glass-partitioned boardroom, an extensive commercial-grade kitchen, a showroom, and male and female amenities. Level one offers a spacious and generously-light filled workspace area, with three partitioned offices included in the floorplan. Heating and cooling make a comfortable difference within the offices and showroom spaces, as do the 9 allocated car spaces afforded to this asset, along with the ample on street visitor parking. Arterial access and public transport are completely streamlined; it’s 3 minutes to Whitehorse Road, 950 m* to Springvale Road, 2 km* to the Eastlink, and 1 km* to Nunawading railway station.

- Leased to Phoeniks Pty Ltd
- New 5-year lease beginning 1st September 2023 with 2 further options of 3 year each.
- $124,000 pa + GST annual leasing income + outgoings
- 709 sqm* total building area.
- 150 sqm* first-floor office area.
- 150 sqm* ground-floor showroom.
- Warehousing has an internal height of approximately 7.5 m*.
- 9 allocated car parks on-site plus shared visitor parking.
- Solar panels (30kw) on roof with 13kw battery.
- Coffee and lunch is a short stroll to the renown Mr Robertson Café.
- 3 minutes* to Whitehorse Road.
- 950 m* to Springvale Road.
- 1 km* to Nunawading railway station.

POINT OF VIEW:
With the ink still drying on a brand new lease, now is the time to add the Nunawading postcode to your portfolio.

*Approx.
Pricing excludes GST