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Brand New Service Station - 10 + 10 Year Lease To Coles E...

137-139 Princes Drive (corner Jane Street), MORWELL VIC, 3840

Sold

Property Sold in 137-139 Princes Drive (corner Jane Street), MORWELL VIC, 3840

Burgess Rawson & Associates Pty Ltd

Level 7, 140 Bourke Street, Melbourne, VIC 3000

Listing ID:
11319140
Status:
Sold
Price:
Price on Request
Last Updated:
26/05/2020
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Property Type

Retail/Showrooms/Bulky Goods/Land/Development
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Land Area

3036 SQM
Icon size

Floor Area

432 SQM
Icon parking

Parking

N/A

Brand New Service Station - 10 + 10 Year Lease To Coles Express

Brand new 10 year lease to Coles Express (Wesfarmers Ltd) to 2028 plus 10 year option to 2038.
$10k annual rent increases first 4 years – lesser of 3.5% or 5 times CPI thereafter.
Lessee pays all usual outgoings including single holding Land Tax.
Coles Express: growing subsidiary of Coles Group Limited with 685 outlets. Wholly owned by Wesfarmers Limited – a top 10 ASX company.
High profile gateway corner of 3,036 sqm with 111 metre total frontage – 13,000+ vehicles passing daily.
Potential value add opportunity via negotiation with tenant to surrender surplus land.
Important Mixed Use Zoning (MUZ) providing the most flexible future potential.
Brand new development providing substantial taxation saving depreciation benefits.
Morwell: central within Greater Latrobe Valley urban area (population 75,000) regional hub of Gippsland, 145km east of Melbourne.
Rent: $260,000 pa

Auction 11am AEDT Wednesday 24 October 2018
River Room, Crown Casino, Melbourne

For more details, please email agent

Burgess Rawson & Associates Pty Ltd

Level 7, 140 Bourke Street, Melbourne, VIC 3000


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