Sold
Showrooms/Bulky Goods

605-617 High Street Preston, VIC 3072

Sold on 16 Dec 2016
  • Building: 1,875m²
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Showrooms/Bulky Goods in Preston

Development Side with ROI of 5.25%+

  • Building: 1,875m²

Ray White Commercial are proud to present an exceptional opportunity to secure a nationally branded tenant (Nissan), with strong income of over $318,270 (as at June 2017) per annum. With a lease term of Five years starting in June 2015 and one option of five years. Ensuring great security for any purchaser. In addition the rental will achieve a fixed 3% yearly increase and no market review making it a very predictable asset.
The property has genuine future development potential and is sitting on 1,875m2* of Priority Development Zone Schedule 2 (PDZ2) land with surrounding developments approved for up to 6 levels. (Council guidelines indicate 4 levels STCA).

Other major benefits and features include:

  • Rental: Currently $309,000 per annum Net
  • 3% fixed annual increases
  • Land size: 1,875m2*
  • Three Street Frontages
  • Lease Term: 5 year initial term (as of June 2015)
  • Option: one five year option
  • Zoning: Priority Development Zone Schedule 2 (PDZ2)
  • Distance to Preston station and Market 800m (less than 10minute walk)*
  • 2.2km to Northland Shopping Centre just a 5 minute drive*
  • Walking access to trains (Preston Station) trams and busses

For all additional information and a more in depth property summary please contact Ryan Trickey 0400 380 438 or Ben Ainsworth 0412 534 028

*Denotes Approximate

Building:

1,875m²

Categories:

Showrooms/Bulky Goods, Retail

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