3/140-148 Chesterville Road Cheltenham VIC 3192

POINT OF INTEREST:

Private Sale by closing date Wednesday 13th April 2022 at 1pm

You’ve found it: the asset-needle in the investment-market-haystack. This is an offer that ticks every box, adds more to the list, then ticks that too. It’s leased to a happy tenant, Next Payments, on a 5 + 5 year lease from November 2019 which returns $110,100 per annum in net lease income. The space is one of only six units in the estate with Chesterville Road frontage, and the building itself includes two-levels of flexible office and showroom space with a large functional warehouse included. The tenants are so content in staying put that they’ve invested into entirely refurbishing the office areas and installing solar panels. Along with 14 car spaces, there’s heating and cooling throughout the office, and a popular café and Vietnamese eatery onsite. Sitting opposite the Waves Leisure Centre and Highett Reserve, you’re also minutes from Bayside institutions like Southland, Marko’s Schnitzel, and the revamped Highett Road retail precinct.

-    672 sqm* building area.
-    Industrial 1 zoning.
-    14 onsite car spaces.
-    Heating and cooling throughout office area.
-    850 m* to Westfield Southland.
-    1 km* to Highett Road shopping precinct.
-    1.7 km* to Southland railway station.
-    17.4 km* from Melbourne CBD.
-    Currently leased by Next Payments Pty Ltd on a 5 + 5 year lease from November 2019.
-    Returning $110,100 per annum net.
-    $21,750 security bond held (plus personal guarantee).

POINT OF VIEW:

We’ve saved you the trouble of looking for that perfect Bayside portfolio addition. Our research shows that there are currently only two comparable office/warehouse hybrids in the area for sale — and both are vacant. We don’t need to spell out why this offer trumps the rest, just reread our previous paragraph.

*Approx.
Pricing excludes GST