Long Term Lease - Core Location
38-40 Elliott Road, Dandenong, Victoria 3175
Industrial For Sale
Land Area: 8,388.00 m2. Floor Area: 4,783.00 m2.
Colliers International and Killen Thomas are pleased to offer the opportunity to purchase a fully leased property to Australian Aluminium Finishing Pty Ltd at 38-40 Elliott Road, Dandenong South, Victoria, Australia.
The property comprises a land holding of some 8,388m² which is situated to the southern side of Elliott Road, featuring an attractive lease covenant to Australian Aluminium Finishing Pty Ltd and situated in the well regarded south-eastern industrial precinct of metropolitan Melbourne.
Key selling points include;
• 100% leased to Australian Aluminium Finishing Pty Ltd on a recently renewed 6 + 5 + 5 year lease expiring 31 January 2022.
• Attractive lease covenant, with tenant having plants nationally within Victoria, New South Wales and Queensland.
• 5.7* year WALE (as at May 2016).
• Passing rental of $375,000 p.a. plus GST plus outgoings.
• Lease provides for fixed annual 3% rental increases, with market review upon exercise of option term.
• Strategic south-eastern industrial location with excellent connectivity to major roads and key infrastructure.
• Quality industrial improvements totalling 4,780m²* with internal clearances ranging from approximately 6.5 metres* to 8.25 metres*.
• Land holding of 8,388m².
• Industrial 1 zone under the Greater Dandenong Planning Scheme.
• Historically low interest rate environment.
• Distinct lack of investment grade assets currently being offered to the market.
The property is being offered for sale via Expressions of Interest closing Thursday 9 June 2016 at 4.00pm.
For further information or to arrange an inspection please contact the exclusive selling agents.
- Fully leased until January 2020
- National tenant with long site history
- Secure net rental with fixed increases
- Total office / warehouse: 4,780m²
||City of Greater Dandenong
||Industrial zone 1
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