11-13 MILGATE ST Oakleigh South
4X LEASED WAREHOUSES FOR SALE BY PUBLIC AUCTION ON WEDNESDAY 31ST MARCH 2021
THE POWER Of Four
04 INTRODUCTION 08 EXECUTIVE SUMMARY 12 LOCATION 16 TENANCY DETAILS 20 PROPERTY PARTICULARS 26 SALE METHOD
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INTRODUCTION 4x warehouses
Aston Commercial IS pleased to offer 11-13 Milgate St, Oakleigh SOUTH for sale by public auction on Wednesday 31st March 2021 at 12:00pm on-site.
This is a rare opportunity to secure four fully leased, premium inner Melbourne office warehouses on a corner site as a whole. This unprecedented offering of near new low maintenance warehouses, provides a diversity of income spread across 4 tenants in the new city
fringe thriving metropolis which will undoubtedly see significant growth in the coming years. Aston Commercial highly recommends this lowrisk, premium industrial investment of four office warehouses for your serious consideration.
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UNIT 1
Near new industrial development of four fully leased self-contained office warehouses with street frontage and off-street parking to be sold AS ONE.
UNIT 3
UNIT 4
UNIT 2
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EXECUTIVE Summary PROPERTY
LOCATION
11-13 Milgate Street Oakleigh South Victoria 3167
Located close to North Road, Dandenong Road/Princes Highway and Warrigal Road.
AREAS
LEASE DETAILS
Land Area: 1,481 sqm* Building Area: 1,045 sqm*
Secure spread of four tenants with a combined income of $167,045 per annum NET.
METHOD OF SALE
TERMS OF SALE
For Sale by public auction on Wednesday 31st March 2021 at 12pm on-site.
10% deposit with settlement in 30-60 days.
EXCLUSIVE SELLING AGENTS
RODNEY KING 0422 839 870 rodney@astoncommercial.com.au
JEREMY GRUZEWSKI 0422 211 021 jeremy@astoncommercial.com.au
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A CONVENIENT Location Oakleigh is steeped in a rich Greek heritage THAT has become a vibrant metropolis. The property is located in the established and popular Oakleigh South industrial precinct close to Huntingdale, Oakleigh, Clayton and Chadstone. Oakleigh South is approximately 17km from the Melbourne CBD. The property benefits from easy access to major arterial roads including North Road, Princes Highway, Huntingdale Road and Centre Road. The property is positioned on the south-west corner of Milgate Street and Manton Road. The area is well serviced by Public Transport with Huntingdale Train Station only 800m* away, buses along North Road, Princes Highway and Warrigal Road.
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PORT PHILLIP BAY
HUNTINGDALE TRAIN STATION
MELBOURNE CBD CHADSTONE SHOPPING CENTRE
HUNTINGDALE RD
NORTH RD
11-13 MILGATE ST Oakleigh South
MILGATE ST MANTON RD
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TENANCY Details Property features include: + Four (4) separate tenancies + Annual rent increases + All buildings have street frontage to Manton Road + On-site secure carparking accessed via Milgate Street + Excellent tax depreciation benefits (Schedule available on request) + All leases due for increases this year + Consistently very low vacancies in the area + Strong annual growth
Description: The property consists of four adjoining well-constructed solid concrete tilt slab office warehouses. Fronting Manton Road, each warehouse has a bright and modern glass façade with a two-level showroom office as well as kitchen and bathroom facilities on both levels. Each have high clearance flexible warehouses to the rear with motorised container height roller doors. Further the properties benefit from secure off-street parking to the rear accessed off Milgate Street, plus ample on-street parking at the front and around the area.
UNIT 1
UNIT 2
UNIT 3
UNIT 4
TOTAL
Size
280sqm 267sqm 249sqm 249sqm 1045sqm
Car Park Spaces
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5
5
5
20
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UNIT 1 280 sqm
UNIT 2 267 sqm
Tenant:
Tenant:
Victoria Taekwondo
F45 Fitness
Lease:
Lease:
Five (5) year lease plus three (3) year option
Three (3) year lease plus two (2) further terms of three (3) years
Rent:
Rent:
$42,436 per annum + GST & outgoings
$43,709 per annum + GST & outgoings
Commencement:
Commencement:
15th December 2017
1st September 2019
T o t a l c o m b i n e d i n c o m e $ 1 6 7,
UNIT 3 249 sqm
UNIT 4 249 sqm
Tenant:
Tenant:
Harton Property Pty Ltd
Odyssey Property Services
Lease:
Lease:
Three (3) year lease plus two (2) further terms of three (3) years
Monthly Tenant
Rent: $40,000 per annum + GST & outgoings
Commencement:
Rent: $40,900 per annum + GST & outgoings
Commencement: 1st July 2017
31st January 2020
045 PA pLus GST & Outgoings 19
PROPERTY Particulars DIMENSIONS AND AREA
TITLE PARTICULARS
Milgate Street Frontage: 30.48 metres*
Lot 33 on Plan of Subdivision 012445 certificate of Title Volume: 08978 Folio: 204
Manton Road Frontage: 41.44 metres* Total Combined Building Areas: 1,045 sqm* Total Land Area: 1,481 sqm* (*approx)
Lot 34 on Plan of Subdivision 012445 certificate of Title Volume: 08978 Folio: 205
T AT E S MILG
UNIT 1
UNIT 2
UNIT 3
UNIT 4
MANTON RD
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WAREHOUSE LEVEL
GROUND Floor
N
MILGATE ST
MANTON RD
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OFFICE LEVEL
FIRST Floor
N
MILGATE ST
MANTON RD
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SALE Method METHOD OF SALE: For Sale by public auction on Wednesday 31st March 2021 at 12pm on-site.
TERMS OF SALE: 10% deposit with settlement in 30-60 days.
INSPECTIONS: Strictly by appointment with the exclusive selling agents.
CONTRACT OF SALE & VENDORS STATEMENT: Available upon request.
EXCLUSIVE SELLING AGENTS
RODNEY KING 0422 839 870 rodney@astoncommercial.com.au
JEREMY GRUZEWSKI 0422 211 021 jeremy@astoncommercial.com.au
11-13 MILGATE ST Oakleigh South
DISCLAIMER This document has been prepared by Aston Commercial Pty Ltd for advertising and general information only. Aston Commercial Pty Ltd do not guarantee, warrant or represent that the information contained in this document is correct. Any interested party should undertake their own enquiries as to the accuracy of the information. Aston Commercial Pty Ltd excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damage arising therefrom. *Approximate