 Asset Class: | Office |
 Price: | $ 1495000 |
 Net Yield: | 6.28 % |
Net Yield - including solar strategy: | % |
 Property Market Status: | On Market |
111b,1060 Thompsons Rd, Cranbourne West, provides an attractive, nearly new, 285m2 first floor space within an exciting and growing commercial & residential precinct. The space is leased on an impressive 6 year lease – to government funded tenant ‘Dandenong and District Aborigines Co-Operative Ltd (DDACL)’. The tenant has been playing an important role in the community since 1975.<br><br>The asset returns approximately $93,954 per annum (including management fees of 4%), meaning a net yield of 6.28%. The asset will also have excellent depreciation benefits, which will enhance the after-tax yield. <br><br>The property is in a new three-storey complex in the booming suburb of Cranbourne West. Located only minutes from major arterials, this development is right in the center of the Southeastern growth corridor (Australia's fastest growing residential corridor) and on the corner of Thompson's Road and Evans Road, affording it significant exposure and daily passing traffic which will continue to grow. The property comes with access to a good sized car park facility. <br><br>Thompsons Road is a major east-west corridor extending from EastLink in Carrum Downs to Berwick-Cranbourne Road in Clyde North. The road provides the northern boundary for a major commercial precinct (see ‘Location’ section). It is an essential freight and transport route used by approximately 26,000 vehicles a day. By 2030, the corridor is expected to be used by 55,000 vehicles a day. The Roads Corporation of Victoria (VicRoads) is carrying out the upgrade project in two stages.<br><br>The ground floor premises fully fitted with high spec government office facilities and securely leased on long lease terms to 2030, or 2040 with option periods. The lease come with attractive annual CPI increases, plus a bank guarantee for additional security.
How old is the asset?
Vendor's reason for selling?
Days property been on market?
Is this property strata titled?
Are the seller and tenant related parties?
How long has the current tenant been on site?
How long has the tenant been in business?
Is this property in a flood zone?
Is this lease a leaseback arrangement?
The Cranbourne West Precinct is located in Cranbourne West. The precinct is bounded by Thompsons Road to the north, Western Port Highway to the west, Ballarto Road Reserve and the Ranfurlie Golf Club in the south and Evans Road and Cranbourne-Frankston Road in the east.<br><br>The area is part of a major growth corridor, which will play an important role in supporting Victoria’s rapid population growth plans.<br><br>Thompsons Road is a major east-west corridor extending from EastLink in Carrum Downs to Berwick-Cranbourne Road in Clyde North. It is an essential freight and transport route used by approximately 26,000 vehicles a day. By 2030, the corridor is expected to be used by 55,000 vehicles a day. The Roads Corporation of Victoria (VicRoads) is carrying out the upgrade project in two stages.<br><br>The area is already host to a number of large retailers and brands including the nearby Marriott Waters Shopping Centre, ALDI, Woolworths, multiple schools and early learning centres.<br><br>Precinct characteristics<br>The Cranbourne West precinct includes a mix of residential and employment uses.<br><br>Precinct structure plan<br>The Future Urban Structure Plan below demonstrates how the precinct will be developed over time. It identifies the location of roads, housing, employment and local parks.<br><br>Note – 1060 Thompsons Road forms part of the ‘Business park’ location highlighted in pink below.<br><br>Quick facts<br>• Area covered by the Precinct Structure Plan - approximately 783 ha<br>• Estimated number of dwellings - 4,477 homes<br>• Estimated future population - 12,560 people<br>• Estimated number of local jobs - up to 16,762 jobs<br><br>Infrastructure funding<br>Infrastructure within the precinct will be funded by contributions from landowners. The Cranbourne West Development Contributions Plan (DCP):<br>• identifies the location for schools, community facilities local parks and roads<br>• establishes a framework for the collection of funding for infrastructure and services<br>• ensure the cost is shared between the various developers and the wider community<br>More information<br>Further information about the Cranbourne West precinct can be found in the following documents:<br>• Cranbourne West Precinct Structure Plan<br>• Cranbourne West Development Contributions Plan<br>Access these documents from the Victorian Planning Authority website.<br><br>
Additional Location Information FileThe Dandenong and District Aborigines Co-operative Ltd (DDACL) is an Aboriginal Community Controlled Organisation that has been serving the Aboriginal and Torres Strait Islander community in the Greater Dandenong area since 1975. <br><br>As a long-standing and respected community organisation, the tenant is deeply embedded in the local area. They provide essential health and community services through the Bunurong Health Service, with a holistic and culturally sensitive approach that addresses the needs of Aboriginal and Torres Strait Islander people. Their presence as a tenant is a reflection of their commitment to supporting the physical, cultural, and emotional wellbeing of the community. With governance by a locally elected Aboriginal Board of Directors, DDACL continues to grow and adapt its services, making them an invaluable and stable tenant that aligns with the needs of the broader community. <br><br>Dandenong and District Aborigines Co-Operative Ltd (DDACL) has offices in the following locations: <br><br>• 62 Stud Road, Dandenong VIC 3175 • 3 Carroll Avenue, Dandenong VIC 3175 • 87 Hallam South Road, Hallam VIC 3976 • 111b, 1060 Thompsons Road, Cranbourne West VIC 3977 • 201, 1060 Thompsons Road, Cranbourne West VIC 3977 • Lot 10, 1060 Thompsons Road, Cranbourne West VIC 3977 <br><br>Read more at - <a style="color:rgb(51, 51, 51);display:inline;" target="_blank" href="https://ddacl.org.au/"><u>https://ddacl.org.au/</u></a> <br>
Initial Term:
Security:
Bank guarantee - equiv to 2 months rent
Security Info:
Bank guarantee - equiv to 2 months rent
Additional Financial Information File
Initial Term:
Security:
Bank guarantee - equiv to 2 months rent
Security Info:
Bank guarantee - equiv to 2 months rent
111b-1060 Thompsons Road, Cranbourne West – 285m2 – $350/sqm (front of building) 12-1060 Thompsons Road, Cranbourne West – 331m2 – $325/sqm (rear of building) 11-1060 Thompsons Road, Cranbourne West – 160m2 – $473/sqm (front of building) 7-8 Thompsons Road, Cranbourne West – 267m2 – $490/sqm (front of building) 6-1060 Thompsons Road, Cranbourne West – 89m2 – $541/sqm (front of building) 201-1060 Thompsons Road, Cranbourne West – 350m2 – $352/sqm 199 Sladen Street, Cranbourne, VIC – 450m2 - 424/m2 (medical use for lease)
Offer To Purchase:
$
Initial Deposit:
$
Due Diligence:
days
Finance:
days
Settlement:
days
• Net return approx. $93,954 plus GST p.a. (after 4% management fees and land tax which are non-recoverable)<br>• 285m2 of lettable area, with high quality spec fit out, at the front of the building<br>• Securely leased on long lease terms to government funded tenant ‘Dandenong and District Aborigines Co-Operative Ltd (DDACL)’, operating since 1975.<br>• Near new 6 year lease with 2 x 5 year options.<br>• The tenant pays all outgoings apart from land tax and property management<br>• CPI annual increases<br>• High exposure frontage to the main road<br>• Ample on-site car parking and bicycle parking<br>• End of trip facilities including showers<br>• Strong depreciation benefits.<br>• Booming suburb of Cranbourne West, located within the southeastern growth corridor, and part of a major mixed use growth precinct<br>• Thriving precinct - an exciting, new mixed-use precinct comprising retail, commercial, office and warehouse/showroom spaces and housing tenants such as Commonwealth of Australia (Federal Minister), Cholas Indian Restaurant, Gym, Healthcare, Osteopath, Dentist, Hair Salon, Financial Services and Indian TV/Film Studio.<br>• Ideal set and forget secure investment opportunity, with strong potential for growth<br>
