Nichols Crowder is thrilled to present to the market a truly rare opportunity in the Highett industrial market. For the first time in over 50 years, these six adjoining warehouses over 1,700sqm* of prime Commercial 2 land, will be sold as one via Public Auction on site.
Fully leased to six separate tenants on month-to-month leases, the warehouses offer a total passing income of $105,000* per annum however we believe these are well under current market rentals.
With a high site coverage of nearly 70% and the potential for significant rental and general capital growth, this unique opportunity cannot be replicated under current planning laws.
Positioned in one of the most tightly held pockets of the bayside business district (and a stones throw from seaside Sandringham), this huge land banking opportunity is a once-in-a-generation chance for the savvy investor and buyer.
Key features include:
* Total income: $105,000 p.a + outgoings (approx)
* Market rental should sit around $150,000 p.a. + outgoings
* All tenants are on over holding leases
* The current passing rental is considered under market
* Total building area: 1,146sqm*
* Total land area: 1,728sqm*
* Flexible Commercial 2 zoning (which allows 4 levels - STCA)
* Vibrant Bayside location, extremely tightly held pocket - Properties of these size rarely come to market
* Common driveway access
* Ability to re-purpose the current building to allow further car parking - Scheme can be provided upon request
* Huge street frontage of over 30m*
* Ideal for the part owner occupier
* Metal roof installed around 10 years ago
Each unit includes:
* Their own access door/roller door
* Lighting
* Toilets
* Three (3) phase power
* Onsite parking
* Toilet facilities
For further details or to arrange an inspection please contact:
Matt Nichols 0418 186 488
James Glen 0401 493 277
Julian Vautin 0420 406 660
OPEN FOR INSPECTION:
Thursday 18th July 12:00 - 12:30pm
Thursday 25th July 12:00 - 12:30pm
Thursday 1st August 12:00 - 12:30pm
Thursday 8th August 12:00 - 12:30pm
Thursday 15th August 11:30am - 12:00pm (pre-auction)
DISCLAIMER:
* All information and measurements are approximates. Please refer to Contract of Sale and/or Lease documentation. All images subject to copyright.
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