51 - 95 Greens Road Dandenong South VIC 3175

For Sale
51-95 Greens Road, Dandenong South, Vic, Australia

JLL are pleased to offer the opportunity to purchase this rare investment and land bank opportunity offering a long-term income and also representing significant short and long term future redevelopment site within a Land Constrained strategic location.

The property comprises a significant landmark holding of 20.01Ha subject to an 8 year triple net lease expiring May 2027 to Australian iconic glass manufacturer Viridian Glass (Upstream). The asset also includes a surplus land component of approx. 3.6Ha, included within the lease, however this can be terminated by the landlord by giving 12 months notice.
Key investment highlights include:

- Long term lease with 8 year WALE (as at 1 May 2019)
- Fully leased to Australian iconic glass manufacturer Viridian Glass (Upstream)
- Fixed annual 3% rental increases throughout the term of the lease
- Rental income of $5,668,175* p.a. net (as at May-19)
- The lease is structured on a triple net basis with the tenant responsible for all outgoings and repairs/maintenance of a structural nature providing landlord security
- Significant landmark land holding of 20.01 hectares within heavily land constrained market and boasting 335* metres of frontage to Greens Road
- Surplus land component 3.6* hectares available for short term development (included within lease, however with 12 month termination clause) at the landlords discretion
- Major investment by tenant with a $250 million float glass tank installed on site with high output capacity
- Excellent connectivity to major arterials providing clear and direct access to metropolitan Melbourne, CBD and Australias busiest port
- High underlying land value underpins the asset

*approx. (All building areas are approximate and subject to final survey report)

For Sale by International Expressions of Interest
Wednesday 8 May 2019 at 4pm AEST