21 Ricketts Road, Mount Waverley is a unique offering with significant future upside, and one which CBRE strongly recommends for your consideration.
The surrounding properties predominantly comprise a mix of modern and older style commercial and industrial buildings. There is convenient access to the Monash freeway, connecting to the City and the outer eastern suburbs via Citylink and Eastlink. With Camberwell, Hawthorn, Toorak and Chadstone a short drive away, this makes for the ideal business location.
The functional properties comprise of three separate units, being two premium grade offices on the first floor and a ground floor café. Both the office units and the cafe have been fitted-out to an extremely high standard. The properties are to be sold individually or as a ready-made portfolio of three.
Strong depreciation allowances together with the robust tenant's covenants make this opportunity an ideal addition to any investment portfolio.
PORTFOLIO SUMMARY:
CAFÉ (Lot 31) POACHER & HOUND
The Poacher & Hound is a stylish café nestled in Mount Waverley's Spectrum Business Park. Poacher and Hound embrace the foundations of simple European intermixed with a contemporary Melbourne cafe feel.
TENANT: Jeffersons Hospitality Group Pty
PASSING RENTAL: $82,876.47 PA*
RENT REVIEW: Fixed annual review of 3.5%
COMMENCEMENT DATE: 15/02/2016
LEASE TERM: Fifteen (15) years
OPTIONS: Three (3) further terms of five (5) years
Suite 101 (Lot 30) CUSHMAN & WAKEFIELD PTY LTD
Cushman & Wakefield is a leading global real estate services firm, originally founded in New York in 1917. The firm is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services.
TENANT: Cushman & Wakefield Pty Ltd
PASSING RENTAL: $56,039.02 PA*
RENT REVIEW: Fixed annual review of 3.25%. Market review at the option period
COMMENCEMENT DATE: 01/10/2017
LEASE TERM: Five (5) years
OPTIONS: One (1) further term of three (3) years
Suite 102 (Lot 29) SHANNON PROPERTIES PTY LTD
Shannon Properties is a family owned and operated residential and commercial property development company. Since 1999, the company has been an industry leader in providing innovative, high quality and environmentally sustainable property developments. Led by a highly skilled and experienced group of designers and builders.
TENANT: Shannon Properties Pty Ltd
PASSING RENTAL: $69,451.09 PA*
RENT REVIEW: Fixed annual review of 3%. Market review at the option period
COMMENCEMENT DATE: 01/07/2016
LEASE TERM: Three (3) years
OPTIONS: One (1) further term of three (3) years (Option exercised)
*denotes approx
