![]() Asset Class: | Industrial |
![]() Price: | $ 3900000 |
![]() Net Yield: | 6.02 % |
![]() Net Yield - including solar strategy: | % |
![]() Property Market Status: | On Market |
<b>Prime Freehold Investment in Port Melbourne – Strategic Growth Opportunity</b><br><br>27 Rocklea Drive, Port Melbourne, just <b>4 kilometers from Melbourne’s CBD</b>, offers unmatched <br>connectivity and a compelling investment case. Located within the Fisherman’s Bend Precinct, <br>this property provides stable rental income and significant growth potential. <br><br><b>Key Features:</b><br><br><u>Building Area:</u> 688 sqm with high-clearance, clear-span warehouse.<br><br><u>Office/Showroom:</u> Two modern levels catering to versatile uses.<br><br><u>Extra Income Stream:</u> Freeway-facing signboard leased to JCDecaux.<br><br><u>Zoning:</u> Capital City, special about the zoning is that it allows both commercial and residential <br>development<br><br><b>Investment Upside:</b><br><br><u>Leasing Potential:</u> Current warehouse rental below market rate, allowing room for future <br>income growth. <br><br><span style="font-style:normal;"><u>Proximity:</u></span> Just 4 km from the CBD with exceptional transport links. <br><br>This asset is an ideal addition for investors seeking strong returns and long-term value in one of <br>Melbourne’s most central and accessible industrial hubs.
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?
Port Melbourne, located just 4 kilometers southwest of Melbourne’s CBD, stands out as one of the most <br>central and well-connected industrial areas in the city. Its strategic location at the intersection of key <br>transport networks and its proximity to the bustling heart of Melbourne make it an unparalleled site for <br>last-mile distribution and logistics. This centrality, combined with the surrounding amenities and lifestyle <br>benefits, positions Port Melbourne as a highly desirable location for businesses and residents alike. <br><br><b>Proximity to Key Transport Networks</b><br><br>Port Melbourne is exceptionally connected, with direct access to major transport routes, including the <br>West Gate Freeway, CityLink, and Melbourne’s port infrastructure. These connections ensure efficient <br>movement of goods across the CBD, surrounding suburbs, and greater Melbourne. The proximity to <br>Melbourne’s Tullamarine Airport and the city’s rail network further enhances its viability as a last-mile <br>logistics hub. <br><br><b>Industrial and Commercial Significance</b><br><br>Port Melbourne hosts a diverse range of industrial, commercial, and logistics operations, making it a <br>focal point for businesses requiring rapid access to Melbourne’s CBD and inner suburbs. The area <br>supports numerous industries, including manufacturing, distribution, and innovative tech startups, <br>bolstered by the Fisherman’s Bend Urban Renewal Precinct. This transformation is creating one of <br>Australia’s largest urban renewal projects, attracting investments and further solidifying the area’s <br>prominence.<br><b> </b><br><b>Lifestyle Benefits of Port Melbourne</b><br><br>Beyond its industrial appeal, Port Melbourne offers significant lifestyle advantages, making it a sought after area for both businesses and their employees:<br><br>1. Proximity to the CBD and Coastal Living: Being only minutes from Melbourne’s city center, Port <br>Melbourne balances urban convenience with access to scenic coastal amenities, including its <br>famous beachfront and vibrant dining precincts.<br><br>2. Recreational Spaces: The area features several parks and recreational facilities, including <br>Westgate Park and Port Melbourne Beach, offering green and outdoor spaces for relaxation.<br><br>3. High-Quality Residential Options: The nearby residential areas, including Beacon Cove and the <br>Docklands, feature modern apartments and luxurious townhouses, appealing to professionals <br>and families alike.<br><br>4. Health and Education Infrastructure: Port Melbourne boasts excellent access to schools, <br>healthcare facilities, and proximity to major educational institutions in Melbourne, further <br>enhancing its liability.<br><br><b>Key Features of Port Melbourne as a Last-Mile Hub:</b><br><br>Distance to Melbourne CBD: Approximately 4 kilometres southwest.<br><br>Access to Major Infrastructure: Immediate proximity to West Gate Freeway, CityLink, and <br>Melbourne’s ports and rail systems.<br><br>Urban Renewal Projects: The Fisherman’s Bend initiative drives growth, fostering an innovative <br>business ecosystem.<br><br>Coastal Lifestyle and Vibrant Community: A perfect blend of work and lifestyle opportunities <br>for residents and employees.<br><br><b>The Future of Port Melbourne</b><br><br>As Melbourne’s inner suburbs grow and densify, the strategic role of Port Melbourne in servicing last-mile <br>logistics becomes increasingly critical. Its unbeatable location, supported by robust transport links, a <br>thriving industrial base, and attractive lifestyle benefits, ensures it remains a prime choice for businesses <br>and residents seeking growth, convenience, and modern urban living.
Additional Location Information FileInitial Term:
Security:
Security Info:
<span style="color:rgb(51, 51, 51);"><b>Tenancy 1 – Vitrocsa Australia Pty Ltd</b></span><br><br><span style="color:rgb(51, 51, 51);">Type of Rent: Net Lease (Non-Retail)</span><br><span style="color:rgb(51, 51, 51);">Rent: $150,800 per annum</span><br><span style="color:rgb(51, 51, 51);">Lease Term: One (1) year</span><br><span style="color:rgb(51, 51, 51);">Commencement: 6th December 2024</span><br><span style="color:rgb(51, 51, 51);">Rent Review: 4% annually</span><br><span style="color:rgb(51, 51, 51);">Market Review: At option (December 2025)</span><br><span style="color:rgb(51, 51, 51);">Options: +3 years</span><br><span style="color:rgb(51, 51, 51);">Bond/Guarantees: $33,000</span><br><span style="color:rgb(51, 51, 51);">Outgoings: Payable by tenant</span><br><br><span style="color:rgb(51, 51, 51);"><b>Tenancy 2 – JCDecaux Australia Trading Pty Ltd (Signboard)</b></span><br><br><span style="color:rgb(51, 51, 51);">Type of Rent: Net Lease</span><br><span style="color:rgb(51, 51, 51);">Rent: $90,652.80 per annum</span><br><span style="color:rgb(51, 51, 51);">Lease Term: Five (5) years</span><br><span style="color:rgb(51, 51, 51);">Commencement: September 2022 (3 years remaining)</span><br><span style="color:rgb(51, 51, 51);">Rent Review: CPI</span><br><span style="color:rgb(51, 51, 51);">Options: -</span><br><span style="color:rgb(51, 51, 51);">Bond/Guarantees: TBC</span><br><span style="color:rgb(51, 51, 51);">Outgoings: Payable by tenant</span>
Additional Financial Information FileInitial Term:
Security:
Security Info:
Rental comparison: Address | Total Size: Building (sqm) | Rent / sqm ($) 27 Rocklea Drive, Port Melbourne | 668sqm | $218/sqm 1/40-44 Cook Street, Port Melbourne | 978sqm | $228/sqm 11 Gateway Court, Port Melbourne | 1003sqm | $240/sqm 4/22 Sabre Drive, Port Melbourne | 352sqm | $250/sqm 1/225 Ingles Street, Port Melbourne | 811sqm | $250/sqm D/250 Ingles Street, Port Melbourne | 1207sqm | $201/sqm 19 Rocklea Drive, Port Melbourne | 700sqm | $237/sqm Sale Comparison: Address | Total Size: Building (sqm) | Sale / sqm ($) 6/34 Wirraway Drive, Port Melbourne | 210sqm | $5714/sqm 6/30 Prohasky Street, Port Melbourne | 970sqm | $5154/sqm 3/31 Sabre Drive, Port Melbourne | 423sqm | $5721/sqm 33 Wirraway Drive, Port Melbourne | 221sqm | $5339/sqm A1/8 Rogers Street, Port Melbourne | 454sqm | $5452/sqm 15/36 Sabre Drive, Port Melbourne | 436sqm | $5298/sqm 1/320 Lorimer Street, Port Melbourne | 1066sqm | $5957/sqm 876 Lorimer Street, Port Melbourne | 1206sqm | $6633/sqm 45 Fennell Street, Port Melbourne | 296sqm | $5169/sqm 3/34 Wirraway Drive, Port Melbourne | 296sqm | $6078/sqm 1/9 Rocklea Drive, Port Melbourne | 296sqm | $5912/sqm 9A/339 Williamstown Rd, Port Melbourne | 296sqm | $5912/sqm
Offer To Purchase:
$
Initial Deposit:
$
Due Diligence:
days
Finance:
days
Settlement:
days
<b>Purchase Price: $3,900,000</b><br><span style="font-weight:normal;">Yield / </span><b>Net (excl. management)</b><span style="font-weight:normal;">:</span> <span style="font-weight:normal;">6.19% / </span><b>6.02%</b><br><span style="font-weight:normal;">Rent / </span><b>Net (excl. management</b><span style="font-weight:normal;">):</span> <span style="font-weight:normal;">$241,452.80 / </span><b>$234,817.80</b><br><span style="font-weight:normal;">Net Rent per sqm:</span> <span style="font-weight:normal;">$218</span><br><span style="font-weight:normal;">Purchase Rate (on NLA) per sqm:</span> <span style="font-weight:normal;">$5,837</span><br><br><b>Property Details</b><br><br><ul style="list-style-type:disc;list-style-position:inside;padding-inline-start:20px;"><li style="list-style-image:none;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:normal;"><b>WALE:</b></span><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> 2 years</span></p></li><li style="list-style-image:none;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:normal;"><b>Asset Type:</b></span><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> Freestanding Warehouse</span></p></li><li style="list-style-image:none;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:normal;"><b>Market Status:</b></span><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> On Market</span></p></li><li style="list-style-image:none;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:normal;"><b>Age of Asset:</b></span><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> Around 20 years</span></p></li><li style="list-style-image:none;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:normal;"><b>Unapproved Structures on Site:</b></span><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> Not that the agent is aware</span></p></li><li style="list-style-image:none;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:normal;"><b>Owner’s Reason for Selling:</b></span><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> Deceased estate</span></p></li><li style="list-style-image:none;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:normal;"><b>Seller & Tenant Relationship:</b></span><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> Not related</span></p></li></ul><br><br><b>Tenant Occupancy</b><br><br><ul style="list-style-type:disc;list-style-position:inside;padding-inline-start:20px;"><li style="list-style-image:none;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:normal;"><b>Vitrocsa Australia Pty Ltd:</b></span><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> Since 2021</span></p></li><li style="list-style-image:none;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:normal;"><b>JCDecaux Australia Trading Pty Ltd:</b></span><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> Since 2017</span></p></li></ul><b>Last Sold / Price:</b> 2008 / $1,540,000<br><b>First Time Rethink Investing Has Had This Asset:</b> Yes<br><b>Vacancy:</b> Tenanted – If vacant, expected vacancy period of 3-6 months<br><b>Flood Zone:</b> No<br><br><b>Property Features</b><br><br><ul style="list-style-type:disc;list-style-position:inside;padding-inline-start:20px;"><li style="list-style-image:none;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:normal;"><b>Land Area:</b></span><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> 770m²</span></p></li><li style="list-style-image:none;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:normal;"><b>Building Area:</b></span><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> 668m²</span></p></li><li style="list-style-image:none;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:normal;"><b>Car Spaces:</b></span><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> 7 on-site</span></p></li><li style="list-style-image:none;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:normal;"><b>Frontage:</b></span><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> 18.86m</span></p></li><li style="list-style-image:none;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:normal;"><b>Signage:</b></span><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> Great exposure to highway (~200,000 cars crossing the West Gate Bridge daily)</span></p></li><li style="list-style-image:none;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:normal;"><b>Fit Out:</b></span><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> By landlord</span></p></li><li style="list-style-image:none;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:normal;"><b>Lifts:</b></span><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> No</span></p></li><li style="list-style-image:none;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:normal;"><b>Roller Doors:</b></span><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> Yes</span></p></li><li style="list-style-image:none;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:normal;"><b>Zoning:</b></span><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> Capital City</span></p></li></ul>