27c/211 Powlett Street East Melbourne VIC 3002

A rare strata tilted car park in the Tribeca Development on Victoria Parade, offering a long-term secure income in the Blue Chip East Melbourne real estate market. This is a super convenient and scarce opportunity.

Secure longer-term lease with Care Park Pty Ltd, one of Australasia's largest car park operators. Current lease expires 18th of April 2025.

The current income is for each space $218.94 per calendar month (excl GST) or $2,627.28 per annum, with annual rent adjustments or reviews. Currently showing a 4.49% NET (Tenant pays all outgoings) return on investment at the asking price.

Low Maintenance Investment:

As this car park is attached to a secure long term lease the outgoings (council rates, owner corporation fees and water rates and congestion levy) are the responsibility of the Lessee and therefore this is a low maintenance investment offering a NET return on investment.

No Vacancy, No Maintenance, No Letting Fees, No Advertising Costs, No Council Rates, No Owner Corporation Fees, No Congestion Levy and No Management Fees.
No Worries for the Life of the Lease
National Tenant: Care Park Pty Ltd

Easy distance to the MCG, Epworth Freemason (Albert Street & Victoria Parade) Hospitals, specialist medical precinct, public transport to the CBD and over 400 residential apartments above the car park, assure the operator of strong patronage and you a secure investment.

13 sqm approx