This property is an outstanding opportunity to purchase a site on Mulgrave Road with a multitude of uses. With a level area of 1,134 sqm and a frontage of 30 metres to Mulgrave Road, the site is in the centre of one of the main retail areas along Mulgrave Road. Car retailing opportunities, general showroom for bulky goods and specific retail etc are just some of the possible uses.
The property is currently under lease, however, the tenant can either be maintained or arrangements made for relocation should the site be required for immediate use. The structures on the site, with the exception of the office, do not form part of the sale.
The property is subject to a five year lease which commenced on 1 January 2023 at a commencement rental of $60,000 plus GST with 3% increases annually (current rent $61,800 plus GST). A copy of the lease is available if requested with the lessee to pay and discharge without exception all taxes (except land tax), assessments, outgoings and impositions whatsoever.
Land tax assessed on a single holding basis for companies is $4,170 currently with the unimproved site value of $510,000.
This is an exceptional opportunity to secure a prime location which rarely present themselves on Mulgrave Road and is also on the outbound lane of Mulgrave Road which is always preferred by occupiers.
* Level site of 1,134 sqm
* Exposure plus with frontage of 30 metres
* Sales office, amenities and detailing bay
* Ready to use or develop
* Proven location
* Additional structures for sale by negotiation or can be removed
* Currently under lease with an opportunity of vacant possession
