2994 Frankston-Flinders Road Balnarring VIC 3926

Burgess Rawson are pleased to present to market Balnarring Motors freehold at 2994 Frankston-Flinders Road, Balnarring VIC for sale via Investment Portfolio 173.

This property has the following key investment highlights:

+ New Seven (7) year net lease to 2031.
+ Court ordered sale the property must be sold.
+ Fixed, compounding 3% annual rent increases.
+ Balnarring Motors: Longstanding automotive business on-site since 1972 including auto electrician, mechanical workshop, pump-service fuel station and retail shop.
+ Prominent 410 sqm* building including retail shop, mechanic workshop with 5 hoists, storage, amenities and drive-through warehouse access.
+ Expansive 981 sqm* landholding with rear ROW and located on service road with ample parking adjacent.
+ Excellent exposure to Frankston-Flinders Road, servicing 42,700* vehicles weekly.****
+ Valuable 'Commercial 2' Zoning allowing significant underlying upside and a multitude of future uses STCA.
+ Tenant pays all usual outgoings as per the lease.
+ Two director guarantees in place providing security.
+ 200m* from Balnarring Village Shopping Centre including Ritchies Supa IGA, Zambrero, Cellarbrations, Bendigo Bank, Clinical Labs, Australia Post and many more.
+ Balnarring: Strong holiday destination on the Mornington Peninsula located 63km* from Melbourne CBD with a median house price of $1,320,000.**
+ Mornington Peninsula Shire: Tourism has seen a 55% increase from the previous year with total domestic tourists reaching 8.23 million people.***
+ Estimated Net Income: $79,450 pa* + GST.

To be sold by Investment Portfolio Auction 173
10:30AM AEDT Wednesday 11 December 2024
River Room, Crown Casino, Melbourne

* Approx
** ***
*** Mornington Peninsula Shire
**** Gapmaps