An extraordinary investment opportunity awaits along the bustling Wickham Road in Moorabbin. On offer are three individually titled freehold properties -239, 243, and 245247 Wickham Road- being sold together to form a commanding industrial landholding with an expansive frontage of approximately 92 metres.
Positioned within one of Melbourne's most tightly held commercial and industrial precincts, these properties present an exceptional chance for investors, developers, and land bankers alike. Whether you're looking to secure immediate income, unlock future development potential, or simply hold for long-term capital growth, this offering delivers on every front.
239 Wickham Road
Occupying a generous allotment of approximately 1,091sqm, this site features a quality industrial facility spanning 733sqm. The premises are currently leased to Mimbo Trading Pty Ltd, returning $120,000 per annum net. The lease commenced in February 2023 on a 3-year term, with two further options of two years each, providing flexibility and ongoing income security. Six on-site car parks complete the offering, ensuring ample parking for staff or clients. With the current lease now on a month-to-month arrangement, this site also offers strategic repositioning potential in the near term.
243 Wickham Road
This is the largest of the three titles, boasting a substantial land area of approximately 2,000sqm and a total building area of 1,584sqm. Currently leased to Rexel, a well-established national tenant, the property returns $185,000 per annum net. The current lease commenced in December 2022 and extends for three years, with two further 3-year options in place. Ten on-site car parks support the large-scale operation, providing easy access for staff and customers alike. This site represents a secure income stream from a strong tenant, with significant upside as the precinct continues to evolve.
245247 Wickham Road
Situated on 1,176sqm of land, this property offers 400sqm of well-presented building space. Leased to Europcar, the tenancy provides a net income of $69,192 per annum. The current 5-year lease commenced in October 2020 and is set to expire in 2025, with no further options, allowing the opportunity for an incoming owner to explore new leasing terms or reposition the asset altogether. With wide street exposure and excellent access, this site is ideal for a range of industrial or commercial uses.
Total Land Area: 4,416sqm (approx.)
Total Building Area: 2,706
