 Asset Class: | Industrial |
 Price: | $ 1100000 |
 Net Yield: | 8.88 % |
Net Yield - including solar strategy: | % |
 Property Market Status: | On Market |
<b>Industrial Asset Just 5km from Melbourne Airport with rental upside</b><br><br>Strategically located just 5 km from Melbourne Airport, 3 Custom Road, Tullamarine, offers<br>751 sqm of GLA, including 566 sqm of warehouse space and 185 sqm of office<br>space, with convenient rear access connecting to 29-31 Garden Drive. Leased to<br>AMR Hewitts (a Peacock Bros. subsidiary) at a market rent of $97,630 p.a. that<br>could be deemed low, this asset presents significant upside potential. The<br>short 18-month lease term provides an opportunity to secure this property at a<br>great price, making it an ideal investment for those seeking growth in the<br>near future. Located in the City of Hume's C2Z zone, it offers exceptional<br>proximity and convenience.
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?
<b>AMR Hewitts PrintPackaging</b>, established in 1977, is a family-owned company specializing in folding cartons and print packaging solutions. Based in Tullamarine, Victoria, they serve industries such as pharmaceutical, FMCG, automotive, and security markets. <br><br> In June 2022, AMR Hewitts was acquired by Peacock Bros., a leading provider of identification, tracking, and mobility solutions with over 12,000 customers across Australia and New Zealand. <br><br> This acquisition combined over 280 years of printing history, enhancing their capabilities in delivering high-quality labels, tags, thermal ribbons, and packaging products. Peacock Bros., established in 1888, operates across various sectors, including manufacturing, transport, retail, and healthcare, providing comprehensive services from pre-sales evaluation to post-sales support.
Initial Term:
Security:
TBC
Security Info:
TBC
Rental Comparison: Address | Total size (NLA) | Rent $/sqm 3 Custom Road, Tullamarine | 751sqm | $130/sqm 2/4-8 Mareno Road, Tullamarine | 842sqm | $95/sqm 14/85-91 Keilor Park Drive, Tullamarine | 405sqm | $137/sqm 19 Garden Drive, Tullamarine | 465sqm | $142/sqm 29-31 Garden Dr, Tullamarine | 2437sqm | $133.5/sqm 31 Catalina Drive, Tullamarine | 418sqm | $108/sqm Recent Sales: Address | Total size (NLA) | Sale $/sqm 9 Lambeck Drive, Tullamarine | 1100sqm | $3,080/sqm 3-5 Lillee Crescent, Tullamarine | 830sqm | $2,434/sqm 24 Ovata Drive, Tullamarine | 950sqm | $2,947/sqm
Offer To Purchase:
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Initial Deposit:
$
Due Diligence:
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Finance:
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Settlement:
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<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>Purchase Price:</b></span><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> $1,100,000</span></p></li><li style="list-style-image:none;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:normal;"><b>Income:</b></span><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> $97,630 p.a.</span></p></li><li style="list-style-image:none;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:normal;"><b>Net Yield:</b></span><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> 8.88%</span></p></li><li style="list-style-image:none;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:normal;"><b>Net Rent:</b></span><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> $130 / sqm</span></p></li><li style="list-style-image:none;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:normal;"><b>Purchase Rate (on NLA):</b></span><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> $1,465 / sqm</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 Class:</b></span><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> Industrial (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;"> Approximately 40 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:</b></span><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> See B&P</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’s Reason for Selling:</b></span><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> Consolidation into a larger facility in 12-24 months</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;"> Related parties (Sale & Leaseback)</span></p></li><li style="list-style-image:none;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:normal;"><b>Tenant Occupancy Start Date:</b></span><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> 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>Last Sold:</b></span><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> 2021 for $800,000</span></p></li><li style="list-style-image:none;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:normal;"><b>Vacancy Status:</b></span><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> Tenanted (3-6 month vacancy expected if vacant)</span></p></li><li style="list-style-image:none;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:normal;"><b>Flood Zone:</b></span><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> Not in a flood zone</span></p></li></ul><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;"> 800 sqm</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;"> 751 sqm</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;"> 2-3 spaces</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;"> Low exposure, facing a quiet cul-de-sac on Custom Road</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;"> Ample space, but limited exposure</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;"> Owned 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;"> None</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;"> C2Z - Commercial 2 Zone</span></p></li></ul><br><p style=""><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">(Please review B&P as there are items the will need attention after the 18 month lease term)</span></p>
