** SOLD **
Gross Waddell ICR is pleased to present for sale an exceptional investment opportunity at 669 Blackburn Road, Clayton. Situated in a prime corner position within a tightly held showroom and industrial precinct, the property is leased to Fowles Auctions and provides a significant value-add opportunity.
• Securely leased to a highly acclaimed Fowles Auctions with a recently renewed lease to February 2028
• Substantial passing income of $569,637.60* net per annum, increasing to $665,800* as at February 2023
• No further term post February 2028 and offers fixed annual increases
• Strategic land holding of 14,030 sqm* and two (2) street frontage to Blackburn Road and Princes Highway
• Favourably zoned C2Z providing a myriad of future development options (STCA)
• Offering underlying land value or value-add potential post lease expiration
• Thriving precinct located directly opposite M-City Shopping Centre and moments to Springvale Homemaker Centre
• Close to Monash University and Monash Medical precincts and the soon expected Suburban Rail Loop train line
The property is for sale via Expressions of Interest, closing at 3:00 pm on Thursday the 5th of May 2022. For further information or to inspect the property, please contact Gross Waddell ICR directly.