Burgess Rawson is delighted to present to the market the Parliament of Victoria leased office at Unit 30 Oleander Drive, Mill Park VIC for sale by National Investment Portfolio Auction 169.
This investment has the following highlights:
+ Renewed 4-year lease to January 2028 plus option to 2031.
+ Parliament of Victoria have occupied the property since it was newly built and is utilised as a local MP office.
+ The Hon. Lily D'Ambrosio MP represents the Labor Party and has been in the legislative assembly since 2002. She is currently the Minister for Climate Action, Energy & Resources and State Electricity Commission, she has been occupying the property in Mill Park since 2016.
+ Modern 145 sqm* premises with a quality office fit-out, dual access and direct street exposure.
+ Strong and certain rental growth with annual fixed compounding 3% increases.
+ Prominent position with 11.5m* frontage to Oleander Drive and 4 car spaces included on title.
+ Surrounded by important social infrastructure including Plenty River College, Morang South Primary School and Mill Park Secondary College.
+ Strategically positioned and surrounded by major retailers including Bunnings, Woolworths, KFC, Hungry Jack's, Domino's, Subway, Kool Kids Childcare, Westfield Plenty Valley, HomeCo South Morang and Rivergum Village Shopping Centre.
+ Mill Park: Has recently been ranked in the '10 Best Suburbs to Invest In Melbourne 2024' by Canstar(1).
+ City of Whittlesea: one of Melbourne's fastest growing municipalities with a resident population in excess of 245,000 people and an annual economic output of $27.52 billion. (2)
+ Net Income: $62,029 pa* + GST
To be sold via Investment Portfolio Auction 169
10:30am AEST Wednesday 26 June 2024
Conference Hall, Crown Casino, Melbourne VIC
For more information, please contact the exclusive selling agents below:
DAVID NAPOLEONE
0417 308 067
dnapoleone@burgessrawson.com.au
SAM MERCURI
0413 830 709
smercuri@burgessrawson.com.au
*Approx
(1) Canstar.com.au
(2) - REMPlan
