MemorandumInformation 263-265 Princes Highway, ExpressionDandenongof Interest Closing Thursday 15 September, 4pm Redevelop with residual income
The prime location offers 46.01m of frontage to Princes Highway and excellent connectivity.
263-265 Princes Highway, Dandenong
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An incredible opportunity to purchase a strategic group of securely leased properties with the potential for redevelopment.
The property consists of five tenancies (one tenancy has units 1 and 2 combined) with a total building area of 2,229m² and a total return of $144,080 per annum + outgoings.
PARTNER
Matt Rice “ ”
With its position on Princes Highway, so close to Eastlink, this group of properties is truly hard to beat as a redevelopment opportunity with a stable income as a bonus. Not to be missed!
Information Memorandum
SnapshotProperty FEATURES Redevelopment with residual income Next to the Eastlink interchange Frontage of 46.01m to Princes Highway Current return $144,080pa nett IndustrialZONING 1 LAND acrossBUILDING4,428mAREA2AREA2,229m²5units FaceyProperty.com.au
PURPOSE
ZONING
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Shown on the planning scheme map as Commercial 2
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To implement the Municipal Planning Strategy and the Planning Policy Framework. To encourage commercial areas for offices, appropriate manufacturing and industries, bulky goods retailing, other retail uses, and associated business and commercial services. To ensure that uses do not affect the safety and amenity of adjacent, more sensitive uses.
263-265 Information Memorandum
2 1 3 6 4 5 1. South Eastern Private Hospital 2. Eastlink 3. Dandenong CBD OverviewLocation 4. Heatherton Road 5. Noble Park North 6. Yarraman Train Station FaceyProperty.com.au
An ultimate hub of connectivity and one of the largest connecting intersections in the region where Eastlink, Princes Highway and Heatherton Road converge. You are placed for easy connection north, south, east and west.
Dandenong is a suburb in Melbourne, located 35km southeast of Melbourne’s CBD, a part of the City of Greater Dandenong local government area.
The City of Greater Dandenong, also known as the “City of Opportunity”, is home to approximately 10 per cent of Victoria’s manufacturing sector, as well as health care and social assistance, construction and retail trade. All of which are major drivers of employment and economic growth in the region.
Suburb Profile Connectivity
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Information Memorandum
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Tenant Profiles Unit 1, 263 Princes Highway, Dandenong Unit 2, 263 Princes Highway, Dandenong Unit 1 & 2, 265 Princes Highway, Dandenong Unit 3, 265 Princes Highway, Dandenong Unit 4, 265 Princes Highway, Dandenong Total Income: $144,080 per annum + outgoings Tenant Size Term Renewal options Income Expiry Annual Review Nikey Flooring Pty Ltd 385m2 3 years 3 years $36,760.25 pa + O/Gs 06/05/2023 Market Review Tenant Size Term Renewal options Income Expiry Annual Review Gima & MarkogiannakisHelen 340m2 2 years 2 years $19,043.76 pa + O/Gs 30/09/2024 CPI Tenant Size Term Renewal options Income Expiry Annual Review Lucas Tyres Australia Pty Ltd atf RRA Unit Trust 800m2 3 years 3 years $62,526.48 pa + O/Gs 20/02/2023 Market Review Tenant Size Term Renewal options Income Expiry Annual Review AAA Exports & Imports Pty Ltd 282m2 2 years 2 years $13,059.72 pa + O/Gs 7/10/2024 CPI Tenant Size Term Renewal options Income Expiry Annual Review Emmanuel & MarkogiannakisHelen 300m2 2 years Nil $12,690.00 pa + O/Gs 14/03/2023 Market Review Information Memorandum
PropertiesComparable SALE PRICE PURCHASE PRICE $3,100,000 Contract Date: November 2021 RENTAL RETURN LEASE PRICE $164,230pa + Outgoings + GST Some monthly tenancies + one vacancy at time of sale ZONING Commercial 2 LAND AREA 2,511m 2 BUILDING AREA 2,034m 2 253-257 Princes Highway Dandenong FaceyProperty.com.au
SALE PRICE PURCHASE PRICE $2,910,000 Contract Date: May 2021 RENTAL RETURN LEASE PRICE $71,917.56pa + Outgoings + GST 2x monthly tenancies + 2x vacant properties at time of sale ZONING Industrial 1 113-123 Cheltenham Road and 1 Tharle Street, Dandenong SITE TYPE Development Site LAND AREA 2,780m 2 Information Memorandum
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METHOD OF SALE For Sale by way of Expression of Interest closing Thursday 15 September, 4pm. InformationSale Contract of Sale Vendor Statement Resources
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Your Agents 0418josh.kendall@faceyproperty.com.au0419matt.rice@faceyproperty.com.au871240322443 PARTNERPARTNER GrahamRiceMatt ‘Josh’ Kendall Information Memorandum
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6 Clow Street, Dandenong VIC 3175 9701 4455
Disclaimer Facey Kendall O’Dea Pty Ltd trading as Facey Property (“the Company”) will have no legal liability to any party who claims to have relied on this document in whole or in part for any purpose/s whatsoever. This document is provided only for the general information. The reader acknowledges that it does not intend to rely upon the document for any commercial, legal, or other specific purpose and shall undertake its own further investigations or enquiry as necessary for its intended purpose. The Company confirms that the document is for general information only and provided as such. The Company states that neither it nor its Directors or employees are licensed valuers or purport or represent to be such. In addition, this document is based upon information provided to the Company by third parties, which has not been and is not required to be independently verified by the Company. The Company makes no warranty as to the accuracy or reliability of the information contained in this document and the Company disclaims all liability and responsibility for any direct or indirect damage or loss which may be suffered from this document. Before making any decisions about property, the Client acknowledges that it must make its own further enquiries, verify the accuracy of any information relating to the property investments herein and seek further professional valuation advice from a licensed valuer (including obtaining a formal sworn valuation) and any failure to do so is at the reader’s sole risk. The Company notes that any inoperative or void provision herein is deemed to be severable from this disclaimer for all purposes.