Legendary Investment With A Fit Out To Match.

Sold - 3/19-23 Geddes Street, Mulgrave

Investment opportunity, Industrial

Sale Details

Sold on 23 Sep 2024 for $1,100,000

Building Area 447m²
Rate $2,461 per m²
Yield: 5.15%

Overview

Sale History ID: 40791
Property ID: 20582
Advertised Price: Contact Agent

Description

POINT OF INTEREST:

This impressive property spans a total of 447m²*, offering 150m²* of contemporary office space complemented by a 297m²* warehouse with a generous 7-meter ceiling height has been refurbished as a sports mecca! Currently leased to MSF Sports Pty Ltd as a showroom, the property also features a bonus 50m²* mezzanine as a break out area with bar and lounge. The ground floor includes a fully equipped kitchen and staff amenities, complete with a shower for added convenience. Ducted heating and cooling throughout ensures year-round comfort, while a state-of-the-art alarm and camera system provides enhanced security. With 7 on-site parking spaces, this property combines practicality with modern design for seamless business operations.

Lease Summary:
- Leased to MSF Sports Pty Ltd
- 3 years with no further options
-Income: $56,650 pa
-In occupation since 2020.
- 3% annual increases
- 3 month security bond
- Details on the tenant via their website: https://www.msfsports.com.au/our-story/

Property features:

- Total building area: 447m2*
- Total office area: 150m2*
- Additional light storage mezzanine of 50m2* (not included in total floor size)
- Total warehouse area: 297m2*
- 7 metres* internal warehouse height
- Ground floor kitchen and staff amenities with shower
- Ducted heating and cooling
- Alarm and camera system installed
- 7 on site car spaces
- 1km* from the Monash Freeway
- Close proximity to Springvale, Ferntree Gully and Blackburn Roads
- Great container loading and unloading capacity for 20 foot containers right beside the property

POINT OF VIEW:

Located just 25 minutes* from Melbourne's CBD, this versatile office/warehouse offers fantastic access to major arterial roads including Wellington Road, Monash Freeway and Princess Highway. The recently refurbished property boasts a contemporary office design with practical warehousing , ideal for a multitude of uses and businesses.

*Approx.
Pricing excludes GST

Additional Info
Features
TenancyMSF Sports Pty Ltd
Lease Term3 years
Commenced6/10/2023
Rent Review3% per annum
Bond/Guarantees3 months + GST
Outgoings PayableBy the tenant excluding Land Tax.
Age10 years approx.
Air ConditionerYes
AvailabilityTenanted
Car Parking FeesNil.
Car Spaces7 on site
ConditionExcellent.
Floorsconcrete
Height6.5 - 7 metres
Liftsno
Roller Doorsone
Sprinklersno
Wheel Chair AccessYes
Zoningindustrial 1
Outgoings
Agent Details
CVA Property Consultants - John Nockles

John Nockles

M | 0404 530 393
T | (03) 9623 2591
E | [email protected]