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South Melbourne Investment

Unit 3/38-42 White Street, SOUTH MELBOURNE VIC, 3205

Sold

Property Sold in Unit 3/38-42 White Street, SOUTH MELBOURNE VIC, 3205

Nichols Crowder Property Solutions

358 South Road, Moorabbin, VIC 3189

Listing ID:
11377620
Status:
Sold
Price:
Contact Agent
Last Updated:
20/05/2020
Icon building

Property Type

Industrial/Warehouse/Offices
Icon square

Land Area

N/A
Icon size

Floor Area

548 SQM
Icon parking

Parking

N/A

South Melbourne Investment

AUCTION WEDNESDAY 18TH MARCH AT 12 NOON ON SITE

This truly is one of the most unique opportunities a savvy investor could capitalise on based on the fact that nearly every box can be ticked from the lease, to the tenant, to the underlying building value.

Located near the heart of the Melbourne CBD, Unit 3/3 -42 White Street South Melbourne is a secure investment, ideal for any growing property portfolio.

Key features include:

* Long established business, Hermanns Imports Pty Ltd trading as "Edward Meller"
* Major retailer of luxury women's shoes with over 20 retail stores nationwide
* Strong passing net income of $92,700p.a.* (incl. capped Land Tax)
* 3 + 3 + 3 year lease term
* Initial lease term expiry 31 July 2021
* Fixed rental increases throughout lease
* Tenant pays all outgoings in addition to rent (excluding Land Tax)
* Total building area: 548sqm*
* Outstanding car parking allocation of 9 marked spaces
* Tax depreciation benefits available ongoing
* City fringe location surrounded by an amazing road network

You are buying a high quality office warehouse with a revered tenant – this is truly a sit and forget investment!

For further information or to arrange an inspection, please contact:

Julian Vautin - 0420 406 660
Matt Nichols - 0418 186 488

NB: All areas and measurements are approximate. All prices are plus GST, unless otherwise stated. All images and renders are subject to copyright.

*Denotes Approx.

For more details, please email agent

Nichols Crowder Property Solutions

358 South Road, Moorabbin, VIC 3189


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