- Prime location on bustling Keilor Road in Essendon, the property benefits from excellent visibility and accessibility, just 10 km from Melbourne's CBD and close to both Melbourne and Essendon Airports, making it attractive to both business and leisure travelers.
- Strong underlying tenant profile leased to Punthill Apartment Hotels, a reputable and established national operator in the serviced apartment sector, ensuring stable and long-term rental income with a history of strong performance across multiple locations.
- Secure long lease term for an initial term of 10 years, with options for three additional terms 5 x 10 x 5, providing a total potential lease duration of 30 years, giving investors exceptional income security.
- Attractive rental income with current passing rent of $758,543.50 per annum* (plus GST) as March 2025 with rental increases, ensuring consistent growth in rental returns over the lease term.
- Strategic mixed-use property comprising 40 apartments, 24 brand new studio apartments, 6 one-bedroom apartments, and 10 two-bedroom apartments, this well-balanced mix caters to a broad demographic, enhancing its appeal to various customer segments, from business travelers to families.
- Significant depreciation benefits.
- Robust local economy located in the affluent City of Moonee Valley, a region experiencing ongoing economic growth with a diverse business landscape. This economic stability provides a strong foundation for property investments in the area.
- Modern facilities and amenities offering a range of amenities including high-speed WiFi, a 24-hour fitness center, concierge services, and on-site parking, enhancing its appeal to guests seeking convenience and comfort during their stay.
- Proximity to key infrastructure with property is located near essential services, retail outlets, restaurants, and public transportation, making it a highly convenient destination for travelers while benefiting from nearby commercial developments and urban renewal initiatives.
Cushman & Wakefield Middle Markets & Ray White is excited to present Punthill Apartments 261 Keilor Road, Essendon for sale via International Expressions of Interest closing Thursday 24 October at 12pm (AEDT)
*Approximate
Cushman & Wakefield
Oliver Hay
+61 419 528 540
Daniel Wolman
+61 412 957 839
George Davies
+61 421 799 489
Louise Burke
+61 408 510 161
Ray White
Shaun Marijanovic
+61 418 352 888
