POINT OF INTEREST:
For Sale by Close Date on the 12th June unless sold prior. All offers are due at midday.
An internationally renowned tenant without the building price tag, this investment is the most strategic — and lucrative — offer on the market. Olympus is a medical supplier that employs over 31,000 globally and is paying $94,420.08 per annum in leasing income, with a 3% increase every year. They began their five-year lease in June 2022, with a further 5 + 5 year term to follow.
Possibly the biggest talking point and solidifying this tenant in the premises for the long term is that they have just invested nearly $1 million in an internal fit out, demonstrating their commitment to this building for the long term.
The total building area measures 501 sqm*, split between 271 sqm* of office space and 230 sqm* in warehousing. There are male and female amenities on both floors, a high-tech security system including FOB access, and extensive data and telecommunications wiring. The 160 amp three-phase power upgrade adds value also.
Sitting within the highly sought-after WARECA Business Park, your popular neighbours that front the estate like Autobarn, Petbarn, Fernwood Fitness, Timezone Bowling and Nando’s all attract plenty of eyes (and wallets) from Princes Highway. On the other side, M-City, the largest mixed-use development in Melbourne, boasts three residential towers, a PARKROYAL Hotel, a retail precinct, and boutique office space within its multi-million dollar community hub. The shopping centre here offers a Kmart, Woolworths, Village Cinema and specialty stores, while IKEA, JB-HiFi, and Bunnings are only a little further down the road in Springvale.
The commercial prowess is bolstered by its sophisticated arterial connections. The Monash sits 2.7 km* away, the Eastlink is a short drive down Dandenong Road, and the Dingley Bypass is a 5 km* drive down Clayton Road. For public commutes; Westall railway station is a 2.3 km* drive away, and the 800 bus stop is practically on your doorstep.
- Leased to international tenant Olympus Australia Pty Ltd (Non retail lease).
- $1 million fit out just completed by tenant.
- $94,420.08 per annum in leasing income.
- Lease Commencement: June 2022.
- Lease Terms: 5 + 5 + 5 years.
- 501 sqm* total building area.
- 230 sqm* of warehousing.
- 271 sqm* in office area.
- Industrial 1 zoning.
- 7 allocated car spaces plus ample parking at the front of the estate.
- 160 amp three-phase power upgrade.
- 3 km* to the Monash.
- 5 km* to Dingley Bypass and Mordialloc Freeway intersection.
POINT OF VIEW:
A tenant with these credentials not only validates the quality of the building here, but solidifies the strength in set-and-forget investments with an occupier of this scale. Add a $1 million fit out, and Olympus, to your FY25 success story.
*Approx.
Pricing excludes GST
