Tenanted Investment for Sale at Auction
An investment opportunity with one of Australia’s largest tyre outlets as a tenant at Chadstone in Melbourne’s south-east is being offered for sale via auction by Ray White Commercial.
The property at 1356 Dandenong Road, Chadstone, is being marketed by Ray White Commercial Oakleigh’s Ryan Amler and George Kelepouris.
Ryan Amler said the approximately 440 sqm building on an approximately 540 sqm land area is leased to Goodyear & Dunlop Tyres (Aust) Pty Ltd, trading as Beaurepaires Chadstone.
“This property is offered sale for the first time in 28 years and is a prime retail investment in arguably one of the most prominent and high exposure positions on Dandenong Rd with approximately 29,000 passing vehicles per day,” he said.
“The high profile national tenant commenced a five-year lease with three + three year options in September, 2015. The property generates net rental income of approximately $72,100 per annum and there are fixed 3.0 per cent annual increases and market reviews at commencement of further terms.”
George Kelepouris said the property is zoned MUZ and enjoys high exposure with two street frontage.
“There is future development upside subject to council approval,” he said.
The property will be auctioned on-site at 11am on Friday, October 14, 2016.