Burgess Rawson are delighted to present to market, 1 Mason Street, Newport VIC for sale via Expressions of Interest, closing Wednesday the 16 October at 3pm (AEST).
The property has the following key investment highlights:
+ Leased to the Williamstown Football Club since 1997 and operated under a management agreement to leading hospitality/gaming operators Francis Venues.
+ Williamstown Football Club: to highly successful VFL/VFA, with history trailing back to 1864 and including 16 premierships. (1)
+ Francis Venues: A national hospitality/club powerhouse operator with over 30 years of experience and 600+ current staff. (2)
+ Rare and attractive investor net lease terms, with the tenant paying all outgoings including single-holding land tax.
+ Valuable 66 licensed gaming machine entitlements to 2042 with strong and consistent trading figures over the last three consecutive decades.
+ Planned $1 million capital fit-out upgrades to be undertaken and paid by the tenant, further strengthening the operation.
+ High profile city fringe location, seeing over 22,000 vehicles passing daily and strategically positioned at the entrance of Newport Train Station with over 500,000 annual visitors. (3)
+ Newport is in part of the $10 billion West Gate Tunnel Project; The project aims to improve access to Newport/Williamstown and the whole of Melbourne's West End and increase traffic flow in the area. (4)
+ Newport: Affluent inner western suburb with a median house price of $1,235,000. (5)
+ Hobsons Bay City Council: Over the FY 2022/23, building approvals have surged to more than $1.17 billion, reflecting a 134% increase compared to the previous year, in response to the city's growing population. (6)
+ Net Income: $850,000 pa* + GST.
For Sale via Expressions of Interest
Closing 3pm (AEST) Wednesday the 16th of October
For further information or to inspect, please contact the agents below.
*Approximately
(1) Williamstown Football Club
(2) Francis Venues
(3) GapMaps
(4) Victoria's Big Build
(5) ***
(6) REMPLAN
