1102-1106
Dandenong Rd Carnegie
F O R S A L E BY E X P R E S S I O N S O F I N T E R E ST C L O S I N G W E D N E S D AY 8 T H S E P T E M B E R 2 0 2 1 AT 2 P M
1102-1106
Dandenong Rd Carnegie
Contents 04
INTRODUCTION
06
EXECUTIVE SUMMARY
10
LOCATION
14
SUBURB PROFILE
18
PROPERTY PARTICULARS
22
TENANCY DETAILS
24
KEY REASONS TO BUY
26
SALE METHOD
3
Introduction Aston Commercial are pleased to offer 1102-1106 Dandenong Road, Carnegie for sale by Expressions of Interest closing on Wednesday 8th September 2021 at 2pm. Operating as the Carnegie Motor Inn this property has been held by the same family for several decades. In this time Carnegie has transformed into a major Commercial hub with significant infrastructure added to the immediate area including the recently completed multi-million dollar upgrade of Carnegie Railway Station and the Carnegie Central Shopping complex. This significant landholding will be ripe for providing income today but an enormous opportunity to develop into the future. Situated on Dandenong Road a major gateway connecting commuters between the CBD fringe and south-east suburbs. We highly recommend this property for your serious consideration.
4
Executive Summary
1102-1106
Dandenong Rd Carnegie Positioned 12km’s south-east of the CBD, just metres from the intersection of Koornang and Dandenong Roads adjoining Carnegie Central Shopping Centre. Motel featuring a full range of accommodation including standard motel units, one and two bedroom self-contained apartments and two storey townhouses which can accommodate up to six people.
LOCATION
LAND AREA
Located near Koornang & Dandenong Roads adjoining Carnegie Central Shopping Centre.
2,455 sqm*
LEASE DETAILS
ZONING
Currently leased as the Carnegie Motor Inn on a 4 year lease with options at a rental of $184,517 pa*
Residential Growth Zone RGZ1
METHOD OF SALE
TERMS OF SALE
For sale via Expressions of Interest closing on Wednesday 8th September 2021 at 2pm
10% deposit with settlement in 60-120 days *approx.
EXCLUSIVE SELLING AGENTS
6
Fred Nucara
Liam Rafferty
Director 0418 567 560 fred@astoncommercial.com.au
Senior Sales Executive 0421 886 655 liam@astoncommercial.com.au
Location Some nearby businesses & infrastructure:
Local Businesses • Woolworths • Spotlight • Aldi • Chemist Warehouse • BWS • Rosstown Hotel • Chadstone Shopping Centre
Education • Carnegie Primary School • Murrumbeena Primary School • St Anthony’s School • De La Salle middle school campus • Monash University
Transport • Train – Carnegie Railway Station • Tram – Route 3 – Waverley Rd • Tram – Route 67 – Glen Huntly Rd • Bus – Routes 623,624, 626, 900 & 969
Recreation • Ardie Park • Koornang Park • Carnegie Library • Caulfield Racecourse • Packer Park • Duncan Mackinnon Reserve 10
Suburb Profile:
Carnegie 3163 Carnegie is predominantly a residential
The suburb features areas of open space
area with a great mix of housing types,
south of the neighbourhood, including
with parts of the suburb having seen
Lord Reserve, Packer and Koornang Parks.
major redevelopment and some still feature older style housing and
Carnegie is well served by public transport
period homes.
with a train line north of the suburb, the Glen Huntly Road tram line and buses run
Close to Monash University, the suburb
through the suburb.
is attractive to students. There is a vibrant and lively shopping centre centred around the railway station.
Median House Price
$1,780,000
Surrounding Suburbs Murrumbeena
$1,620,000
Ormond
$1,830,000
Glen Huntly
$1,890,000
Malvern East
$2,070,000
Source: REIV
14
“The suburb is anchored by the thriving Koornang Road shopping strip.”
Property Particulars TITLE PARTICULARS Certificate of Title Volume: 09411 Folio: 851
LAND DESCRIPTION Plan of Consolidation 151444
ZONING Under the Glen Eira City Council Planning Scheme the land is zoned Residential Growth Zone – RGZ1 The land is also subject to the following overlay PO2-2 - Parking Overlay Precinct 2 2.
LAND DIMENSIONS AND AREA
Dandenong Road Frontage
43.36 metres*
Eastern Boundary
64.77 metres*
Western Boundary
52.58 metres*
Total Land Area: 2,455 square metres* *approx.
18
Tenancy Details
Overview of Tenant Carnegie Motor Inn offers its guests a full range of accommodation which include standard motel units, one and two bedroom self-contained apartments, and even two storey townhouses which can accommodate up to six persons. All Standard Motel Units contain a queen size bed, ensuite, bar fridge, toaster, kettle, television and microwave. Some motel units also have a twin share facility. All Apartments feature separate bedrooms, separate lounge rooms and full kitchens with oven, fridge, microwave, cooking utensils and crockery. Carnegie Motor Inn is situated between the famous Caulfield Racecourse, Monash University-Caulfield Campus and the world renown Chadstone Shopping Centre. www.carnegiemotorinn.com.au
22
Trading Name
Carnegie Motor Inn
Rent
$184,517 pa + GST
Lease Term
Four (4) years
Commencement Date
14 May 2020
Options
4 + 4 + 2 years
Rent Reviews
Nil (market review at exercise of option)
Outgoings
Paid by tenant
23
Key Reaso
Long standing suburban Motel providing substantial annual income.
24
Significant landholding with major development upside (STPA).
Walking d Carnegie Station Cranbo Pakenh
ons to Buy
distance to e Railway n on the ourne / ham line.
Moments to bustling retail strip Koornang Road home to major retailers, leading restaurants & boutique businesses.
Highly sought area with a Median House Price of $1,780,000 (REIV).
25
Sale Method
1102-1106
Dandenong Rd Carnegie METHOD OF SALE
TERMS OF SALE
For sale via Expressions of Interest closing on Wednesday 8th September 2021 at 2pm
10% deposit with settlement in 60-120 days
INSPECTIONS
CONTRACT OF SALE & VENDORS STATEMENT
Strictly by private appointment with the exclusive selling agents.
Available upon request.
EXCLUSIVE SELLING AGENTS
26
Fred Nucara
Liam Rafferty
Director 0418 567 560 fred@astoncommercial.com.au
Senior Sales Executive 0421 886 655 liam@astoncommercial.com.au
DISCLAIMER “Materials” refers to any representations, statements, documents, data, statistics, measurements, estimates, figures, calculations, projections, approximates or otherwise stated by Aston Commercial Pty Ltd whether verbally or in writing. The Materials have been collated to assist potential purchasers for advertising and general information only to assist potential purchasers to decide whether to proceed with further investigation in relation to the property or the land. The Materials provided by Aston Commercial does not constitute any offer or contract of sale and is not to be relied upon prior to signing any relevant contract. Any dimensions or measurements of the property or the land (internal and external) are approximates only and should not be relied upon before signing any contract. The potential purchaser must conduct investigations to satisfy themselves that any Materials provided are accurate. Aston Commercial excludes unequivocally all inferred or implied terms, conditions and warranties arising out of the Materials and excludes all liability for loss and damage arising therefrom. *Approximate
