Burgess Rawson are pleased to offer to the market, Westpac and Piano on Evans, Sunbury VIC for sale via our Investment Portfolio Auction 164.
The property has the following investment highlights:
+ Renewed Five (5) year Westpac lease to September 2026 plus options to 2032.
+ Westpac: top 5 ASX listed banking giant, servicing 12.7 million customers with a current market cap of $76 billion.**
+ Strong, set-and-forget net lease structure with Westpac responsible for all usual outgoings including land tax as per the lease.
+ Prominent 513 sqm* freehold site with valuable Commercial 1 Zoning.
+ Significant double storey building with a combined area of 756 sqm*.
+ Prime 14.5m* frontage to Evans Street and plus rear parking access via ROW.
+ Five (5) year lease to Piano on Evans to July 2027 plus options to 2037.
+ Piano on Evans: the North-West Melbourne's newest dedicated live music venue situated in the town centre. Operator with four locations including Northcote, Windsor and Altona.
+ First floor tenancy operates as a piano bar on Friday nights and a nightclub on Saturday nights with important 3am liquor license.
+ Both leases include attractive annual CPI reviews with market reviews at the options.
+ Future potential development opportunity (STCA) with inner city living currently being promoted by local council.
+ Superb central location in the heart of the Sunbury CBD surrounded by leading national businesses including CBA, ANZ, Chemist Warehouse, Target, Big W, Dorevitch Pathology, Australia Post, Woolworths, BWS, Dan Murphy's and Coles.
+ Sunbury: Booming satellite city 38kms* from the Melbourne CBD with a population forecast to grow by 155% by 2041^
+ Net Income: $159,387.88 pa* + GST
To be sold by Investment Portfolio Auction 164
10:30am AEDT, Wednesday 25 October 2023
Crown Metropol, Melbourne VIC
For more information, please contact the exclusive selling agents.
DAVID NAPOLEONE
0417 308 067
dnapoleone@burgessrawson.com.au
MATTHEW WRIGHT
0458 290 588
mwright@burgessrawson.com.au
*Approx
**Westpac.com.au
^Forecast ID
