Blue-chip Investment Leased to Industry Giant.

Sale Details

Sold on 23 Nov 2023 for $2,930,000

Description

POINT OF INTEREST:

To be sold via Expressions of Interest closing 12 midday on the 6th December 2023. All offers must be submitted via contract of sale.

A freehold title, tightly held precinct, and a tenant backed by a multi-billion dollar entity — seasoned investors, meet your standout commercial move of FY24.

This 1,330 sqm* industrial facility has been occupied by Placard for over 20+ years, a manufacturing subsidiary of major Swedish manufacturer Assa Abloy who generate $13 billion AUD in revenue per year and who have spread their operations to six other neighbouring buildings in the street.

Placard is Australia’s only Secure Plastic Card manufacturer that is accredited by all major schemes, providing service based product solutions that are used by the most recognised brands in financial, retail, identification, government, loyalty and hospitality sectors. They issue more than 100 million plastic cards for their clients per year.

With only long-term intentions driving them, Placard have just renewed again for a 2 year term with options beginning from the 1st of December 2023 at a lease value of $148,985.56 per annum net. They’ve also recently invested in a fully-permitted shed at the front of the property and upgraded the ventilation inside the premises worth in excess of $100,000. And it’s no surprise why they’re staying put. Manufacturing operations have been entrenched in specifically 40 London Drive for many years and the investment has been major.

The eastern corridor rarely sees an opening for an asset of this size and class, and thanks to the success of the Bayswater business hub, this pocket benefits from a dedicated Australia Post, Romeo Coffee Roaster, and accessibility to Canterbury Road and Eastlink.

- Long-term lease to Placard for over 20+ years.
- Tenant currently occupies 6 buildings surrounding this building.
- Blue-chip tenant Placard are a subsidiary of $13 billion AUD revenue Assa Abloy.
- Leasing income: $148,986.56 per annum net.
- Lease renewal from 1st December 2023 for 2 years, with 2 + 2 years options.
- Total building area: 1,330 sqm*.
- Freehold title & land area: 2,241 sqm*.
- Substantial power upgrade.
- Industrial 1 zoning.
- 5.4 km* to the Eastlink.
- Tenant responsible for cost of removal of substantial fit out at lease expiry.

POINT OF VIEW:

You are the company you keep, and your portfolio is the company you keep inside the assets. And with 13 billion reasons and a proven track record of growth your financial returns will do the same.

*Approx.
Pricing excludes GST