Burgess Rawson is pleased to offer to the market the Dulux Trade Centre located at 64 Dandenong Road West, Frankston VIC for sale via our Investment Portfolio Auction 172.

This opportunity has the following key investment highlights:

+ Renewed 5 year lease to Dulux Group Australia to 2029 plus option to 2034.
+ Tenant in occupation on-site for more than 25 years.
+ Dulux Group: Australia’s largest paint company with $1.307b revenue in 2023/24(1).
+ Wholly owned by Nippon Paint Holdings Co. Limited on the Tokyo Stock Exchange with a market cap of $21.6b AUD, purchased Dulux in 2019 for $3.8 billion*(2).
+ Landlord preferred net lease structure with tenant paying all usual outgoings including land tax and Owners Corp fees.
+ Fixed, compounding 3.5% annual rent increases ensuring rental growth – next increase March 2025.
+ Versatile 425 sqm* large format retail building that includes 3 on title car spaces.
+ Combined 21 on-site car spaces (common property) at front and rear.
+ Improvements include large showroom, office, amenities, kitchen and warehouse with rear roller door access via Sheridan Avenue.
+ Flexible ‘Commercial 2 Zoning’ allowing for significant future uses.
+ Within 900m* of Frankston Freeway and Frankston-Dandenong Road on and off ramps, seeing a combined 84,000 vehicles passing daily. (3)
+ Frankston: Major commercial, retail, education and transport hub servicing the Mornington Peninsula, with a growing population forecast to increase 40% by 2041. (4)
+ Frankston is the gateway to the Mornington Peninsula: Tourism up 55% year-on-year with total domestic tourists reaching 8.23 million people. (5)
+ Net Income: $101,870 pa* + GST
+ Net Income: $105,435 pa* + GST (March 2025)

For Sale by Investment Portfolio Auction
10:30am AEDT Wednesday 30 October 2024
River Room, Crown Casino, Melbourne

To discuss this opportunity further, please speak to the Burgess Rawson agents below.

DAVID NAPOLEONE – 0417 308 067
MATTHEW WRIGHT – 0458 290 588
RAOUL HOLDERHEAD – 0413 860 304

* Approx
(1) ibisworld
(2) AFR
(3) GapMaps
(4) Forecast.id
(5) Mornington Peninsula Shire