Nichols Crowder is thrilled to present to the market a truly rare opportunity in the Moorabbin Industrial market. For the first time in over 60 years, these four adjoining warehouses on two titles will be sold as one via Public Auction. Fully leased to four separate tenants on month-to-month leases, the properties offer a total passing net income of $61,200* per annum.
Units 18 and 20 feature classic older-style warehouse design, complete with street frontage, roller doors, driveways, and direct access from Kilpa Road. In contrast, units 18A and 20A offer additional privacy and roller shutter door access at the rear of the property.
With a high site coverage of 65% and the potential for significant growth, this unique opportunity cannot be replicated under current planning laws.
Positioned in the heart of Moorabbin, this land banking opportunity is a once-in-a-generation chance for the savvy buyer.
Key features include:
* Total net income: $61,200* p.a + outgoings
* Market rental should sit around $105,000* p.a. + outgoings
* All tenants are on over holding leases
* The current passing rental is considered under market
* Total building area: 832sqm*
* Total land area: 1,393sqm*
* Industrial 1 zone
* Vibrant Moorabbin location, extremely tightly held pocket
* Two (2) crossovers
* Huge street frontage of over 74m*
Each unit includes:
* Roller door
* Lighting
* Own entrances
* Driveway
* Onsite parking
* Toilet facilities
For further details or to arrange an inspection please contact:
James Glen 0401 493 277
Matt Nichols 0418 186 488
OPEN FOR INSPECTION:
Wednesday 24th April 12:00pm - 12.30pm
Wednesday 1st May 11:00am - 11:30am
Wednesday 8th May 12:00pm - 12:30pm
Wednesday 15th May 12:00pm - 12:30pm
Wednesday 22nd May 11:30am - 12:00pm (pre-auction)
PLEASE NOTE:
* All information and measurements are approximates. Please refer to Contract of Sale and/or Lease documentation. All images subject to copyright. Unauthorized use is strictly prohibited.
