145 Anderson Road & 1A King Edward Avenue Albion VIC 3020

James Gregson Commercial is pleased to offer this outstanding freehold investment via private sale, this property boasts solid fundamentals and an excellent long term lease covenant for your consideration.

Astute investors will note the land rich site has excellent capital growth potential as well as stable & predictable rental increases.

The properties comprise of two (2) titles, both zoned General Residential 1 and have a combined land area of 1,724m2 approximately.

Improvements on the land include an existing Childcare centre featuring a former Edwardian era residence, two spacious paved car parks, two outdoor play areas, and additional flexible internal accommodation currently permitted for 95 child placements.

Lease details are as follows:

Tenant - Ayad & Sons Pty Ltd
Lease Term - 15 years commencing on the 17th March 2023
Further terms - two further terms of 10 years each
Rent - $227,032.60 per annum + GST
Review - 3% annual increases (June 2024)
Outgoings - Paid by the tenant
Security Deposit - Equivalent to 6 months rent + GST