New 15 and 10+5 year leases
Ford, Hyundai and Hungry Jack’s
Invaluable 6,953 sqm corner landholding
Gross Waddell ICR and Burgess Rawson, with Advise Transact acting as Transaction Manager, are pleased to present this ultimate landbank investment merely meters from Australia’s largest shopping centre being Chadstone Shopping Centre.
1406-1424 Dandenong Road (corner Drummond Street), Oakleigh is a strategically positioned landholding and benefits from recently committed long term leases and significant passing depreciation benefits.
Investment highlights include:
• Blue-chip investment with brand new 15 and 10+5 year leases to Chadstone Ford, Hyundai and Hungry Jack’s (expiring 2036)
• Phenomenal and steady income stream with future value underwritten by surrounding high-density developments
• Invaluable 6,953 sqm* corner landholding providing combined frontage of 191 metres*
• Favourable Commercial 1 Zoning (C1Z) with a 10-level development precedent on the opposite side of Princes Highway
• Strategically positioned with the internationally acclaimed Chadstone Shopping Centre, iconic Eaton Mall, Monash Freeway and Oakleigh train station all within 1.1km*
• Bustling precinct which houses many national operators including Chemist Warehouse, Toyota, Shell, KFC and Beaumont Tiles plus many more
• Strong and certain rental growth via annual, fixed, compounding 2.5% rent increases
• Thriving tenants in booming industries: Australia’s new car sales market is up 28.3% (source FCAI) and the drive thru fast food sector is growing at record pace
• Underlying land value with Oakleigh boasting a median house price of $1,450,000, up 20.4% in the last 12 months (source REIV)
• Net rent $1,127,718 pa.
The property is to be sold via International Expression of Interest closing at 3:00 pm (AEDT) on Friday the 15th of October 2021.
For further information please contact the agents directly.
In conjunction with Burgess Rawson