July 20, Melbourne –
Savills Australia (8686 8000) is marketing four industrial properties leased to confectioner Patons Macadamia Pty Ltd at Knoxfield in Melbourne’s south-east. The properties can be purchased in in-one- line or individually with prices for the smallest property expected to start at circa $750,000.
The four properties comprising 4801 square metres (GLA) of buildings on a combined 8162 square metre site, will be sold subject to a new three year lease with options to Patons at a total annual rental of $418,355 with 4 per cent annual increases.
Located on the eastern side of Rushdale Street about 3.3 kilometres from EastLink via Ferntree Gully Road and approximately 31 kilometres east of Melbourne CBD, the property/ies include:
• 13 Rushdale Street, 1558sqm office/warehouse (1407sqm) on a 2230sqm site;
• 4/15 Rushdale Street, 418sqm warehouse;
• 17 Rushdale Street, 1274sqm office/warehouse (1002sqm) on a 2757sqm site; and,
• 19 Rushdale Street, 1551sqm office/warehouse (1310sqm) on a 2757sqm site.
According to agents, Savills’ Ben Hegerty and David Kalb, who are marketing the property/ies on behalf of the Sydney-based vendor, the location within the City of Knox Commercial//Industrial precinct, which includes Blackwoods, Bunnings, Masters Homewares, Hallmark Cards and Amcor, is one of the major business hubs in Melbourne’s South East and is consequently tightly held.
“This is a key business hub whose success is driven by its location in Melbourne’s dynamic south-east, its close proximity to Melbourne’s demographic centre, and fantastic access to Melbourne’s premier freeway network including EastLink and the Monash Freeway.
“As a consequence the precinct is highly sought after by tenants and investors, boasts relatively low vacancy and is tightly held,” Mr Hegerty said.
Mr Kalb said the property/ies presented as a sound industrial investment offering a secure lease profile to a high profile tenant, significant underlying land value, and future add value/development potential as well as a bank guarantee equal to three months rental and outgoings. He said the buildings were also in very good condition,
“The property/ies provide an exceptional opportunity for investors in one of Melbourne’s most popular regions and really tick all the boxes of a superb industrial investment,” he said.
The property/ies is for sale via Expressions of Interest closing Thursday, August 11.