21A & 21B Carbine Way Mornington VIC 3931

Nichols Crowder are delighted to offer these two office warehouse facilities for Sale by Expression of Interest closing 2pm on Tuesday 22nd August.

You can choose to make an offer on the individual properties or both.

At a fraction of replacement cost, there is plenty of opportunity for investors, developers or owner occupiers to redevelop, reconfigure or renovate and quickly improve the property's value or rental return. Alternatively, the properties represent an excellent land bank with income.

The two warehouses have a combined ground floor building area of 1,000sqm * and are situated on 2000sqm* (half acre), of highly sought after and favourable Industrial 3 Zoned land. Each property is of brick construction with metal roofs and come with office and male/female amenities.

The properties may be suitable for owner occupiers as both have leases expiring soon (with no further options).

Investors can buy with confidence with each tenant having expressed their interest to extend their leases for 3-5 years at a combined rental of $110,000 (net). This return could be enhanced by reconfiguring or renovating the properties.

21B
* Building area: 500sqm*
* Lease expires August 2023, with no further options
* Current rental $46,771 (net i.e. + GST and outgoings)
* Tenant has provided an email of intent for a new term and rental commencing $60,000 per annum (net)

21A
* Building area: 500sqm*
* Lease expires April 2024, with no further options
* Current rental $46,771 (net ie. +GST and outgoings)
* Tenant has provided an email of intent for a new term and rental commencing $50,000 per annum (net)

Carbine Way is a popular location opposite the Mornington Racecourse and just 1.5km* to Nepean Highway and Main Street retail. Transport connections are easy with north and southbound entrances to Peninsula Link and Moorooduc Highway a short drive to the east.

21A and B Carbine Way represents a flexible offering with something for everyone. To receive further information (including the Contract of Sale, Vendors Statement and Information Memorandum) or to arrange an inspection please contact:

For further information or to arrange an inspection, please contact Josh Monks or Tom Crowder

PLEASE NOTE:

* All information and measurements are approximates. All images subject to copyright. Unauthorised use is strictly prohibited.