1-5 Summit Avenue Belmont VIC 3216

+Renewed 10 year lease to Feb 2032, plus option to 2037.
+Westpeak Residential Services: A trusted Supported Residential Service (SRS) provider across Geelong and Melbourne supporting individuals who are aged or have disabilities and providing full-time accommodation. Registered with Department of Health and Human Services (DHHS).
+Provides accommodation for a maximum of 42 residents in single and twin share configurations (37 rooms).
+Fixed 3% annual rent increases, assuring growth.
+Large 2,681* sqm site with dual frontage to Summit Street & Davis Street.
+Tenant pays all usual outgoings as per the lease.
+High profile location with easy access to the site from the Princes Hwy which services on average 28,000 vehicles per day.
+Surrounded by important social infrastructure including 19 primary and secondary schools, servicing a combined 6,275 full-time students (within 3km radius).
+Positioned within close proximity to Waurn Ponds Shopping Centre underpinned by Coles, Woolworths and 122 speciality stores in addition to the Epworth Hospital Geelong.
+Central position within the Greater Geelong region with the population forecasted to grow to 393,216 by 2041 (increase of 46.19%).
+Net Income: $232,974* pa + GST.

To be sold by Private Sale

*approx