Burgess Rawson is pleased to offer to the market 2, 11-13 Lakewood Boulevard, Braeside VIC for sale via Investment Portfolio Auction 162.
The property has the following investment highlights:
+ Renewed 3 year lease to October 2025 plus option to 2028.
+ Precise Air Group: wholly owned subsidiary of Fujitsu General Ltd, listed on the Tokyo Stock Exchange (TYO:6755) with a market cap of $3.43B.
+ Precise Air is one of Australia's leading national providers of heating, ventilation and air-conditioning.
+ Landlord preferred, net lease terms with tenant paying all usual outgoings including land tax.
+ Annual fixed compounding 3% rent increases, assuring rental growth.
+ Well-presented modern office warehouse totalling 598 sqm* with 9 car-spaces on site.
+ Rental return significantly below market value at $120p/sqm ? uplift potential.
+ Excellent street exposure and irreplaceable parklands outlook.
+ Easy access to major arterials including Boundary Road, Springvale Road, Mornington Peninsula / Mordialloc Freeway, Dingley Bypass, Dandenong Bypass and Eastlink.
+ Strong demand asset class with record low vacancy rates and significant rental uplift across the nation.
+ Net Income: $72,100 pa* + GST (Oct 2023).
To be sold by Investment Portfolio 162 Auction
10:30am AEST Wednesday 2nd August 2023
Crown Casino, Melbourne.
SHAUN VENABLES
0411 860 865
svenables@burgessrawson.com.au
DAVID NAPOLEONE
0417 308 067
dnapoleone@burgessrawson.com.au
RICK JACOBSON
0413 830 083
rjacobson@burgessrawson.com.au
*approx.