 Asset Class: | Medical |
 Price: | $ 2000000 |
 Net Yield: | 6.00 % |
Net Yield - including solar strategy: | % |
 Property Market Status: |
A strategically positioned investment, at the base of a high-end residential development, by one of Melbourne’s more experienced and award-winning developers. The asset provides a secure investment, via exposure to the popular Allied Health industry, in one of Melbourne’s affluent suburbs. <br><br><span style="color:rgb(255, 0, 0);"> </span>The 315m2 asset is positioned with exposure to Railway Road. The premises has recently undergone a significant fit out and includes reception, consulting rooms, sensory spaces, offices and amenities. A lift is available to the upper plaza, immediately outside the entry/exit, providing convenience for visitors. The tenancy is complimented by an impressive commercial precinct which includes a supermarket, offices, restaurants, cafes and a gym. <br><br><span style="color:rgb(255, 0, 0);"> </span>The property delivers a net annual return of $119,816, with a net yield of 6% (including management fees of 3%). There is some short-term upside potential in the return, as the tenant is not-for-profit, a land tax exemption may apply. This would mean an annual saving to the landlord of approx $1,434. <br> <br>Depreciation on this brand-new asset is expected to be excellent, healthily increasing after-tax returns. The engagement of a quantity surveyor is highly recommended. <br><br>The Allied Health tenant ‘Light Occupational Therapy’ provides a health service focussed on neurodivergent children, teens and young adults. The provider is underpinned by Echo Australia Inc, a leading NFP employment service provider. The tenant has signed up on a brand new 5 year lease, with 2 x 5 year options. Annual increases are locked in at 3%, with a bank guarantee equivalent to 8 months rent providing excellent security to the landlord. <br><br><span style="color:rgb(255, 0, 0);"> </span>Long-established as one of Melbourne’s premiere suburbs, Blackburn offers excellent schools and a wide range of sporting clubs and facilities nestled into leafy surrounds. With the commercial precinct surrounded by 289 apartments (which are all sold), the tenants will be supported by a steady stream of foot traffic and activity.<br><br><span style="color:rgb(51, 51, 51);"><i>Note - the tenant is in the final stages of a high quality fitout, some progress photos are provided.</i></span>
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Cafés, restaurants and take-away favourites are sprinkled all around Pace of Blackburn with an emphasis on great coffee and family favourites. Lily Loves George serves up unique and nutritious breakfasts along with an impressive Reuben and super salads for lunch. <br><br>For the sleepyheads, there’s all-day breakfast at Black Alchemy (try the soufflé pancakes!) whilst the Food Republic puts modern European fusion to work with modern takes on paella and a mouth-watering duck fusilli pasta. <br><br>Shopping in the area ranges from the mega-mart scale of Costco in nearby Ringwood, down to local boutiques and regular markets. Forest Hill Chase has mainstream and speciality stores as well as Hoyts Cinemas, bowling, events, a play zone and pop up shops. <br><br>In neighbouring Box Hill, you’ll find a range of Asian grocery stores and dining options for traditional Hot Pot and Yum Cha.
Additional Location Information File<a style="color:rgb(44, 123, 208);display:inline;" target="_blank"><u>Light Occupational Therapy </u></a>is an Allied Health organization dedicated to providing innovative and impactful occupational therapy services to neurodivergent individuals aged 0 to 24. <br><br>Their mission is to empower neurodivergent children, teens, young adults, and their families through affirming allied health services, fostering unique abilities, embracing identities, and promoting inclusion in all aspects of life. The organization emphasizes evidence-based, person- and family-centered, neurodiversity-affirming, culturally safe, and trauma-informed care. <br><br>Their services support individuals with diverse diagnoses and neurotypes, including children and adolescents in out-of-home care, aiming to enhance well-being by facilitating engagement in meaningful everyday tasks such as self-care, productivity, social connections, and community participation.
Initial Term:
Security:
Bank gurantee - equivalent to 6 months rent
Security Info:
Bank gurantee - equivalent to 6 months rent
Additional Financial Information File
Initial Term:
Security:
Bank gurantee - equivalent to 6 months rent
Security Info:
Bank gurantee - equivalent to 6 months rent
166 Whitehorse Road, Blackburn – 315m2 - $397/m2 Shop 13, 166 Whitehorse Road, Blackburn – 88m2 - $600/m2 Shop 9, 166 Whitehorse Road, Blackburn – 319m2 - $400/m2 Shop 5, 166 Whitehorse Road, Blackburn – 175m2 – 375/m2
Offer To Purchase:
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Initial Deposit:
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Due Diligence:
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Finance:
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Settlement:
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●<span style="font-style:normal;font-weight:normal;"> </span>High profile development, by the highly<br>experienced and reputable Pace Development team. <br><br>●<span style="font-style:normal;font-weight:normal;"> </span>Returning approximately $119,816 per annum plus<br>outgoings and GST (assumes property management fees of 3%).<br><br>●<span style="font-style:normal;font-weight:normal;"> </span>6.00% net yield, complimented by expected strong depreciation benefits<br><br>●<span style="font-style:normal;font-weight:normal;"> </span>5-year lease with an additional 2 x 5 year options, to 2039. <br><br>●<span style="font-style:normal;font-weight:normal;"> </span>Fixed annual 3% increases.<br><br>●<span style="font-style:normal;font-weight:normal;"> </span>The tenant pays all outgoings apart from land<br>tax and property management. We expect that there is potential upside due to a land tax exemption (NFP tenant)<br><br>●<span style="font-style:normal;font-weight:normal;"> </span>Building area of 315m2, with an impressive ten (10)<br>basement car parks<br><br>●<span style="font-style:normal;font-weight:normal;"> </span>Modern and extensive quality fit out<br><br>●<span style="font-style:normal;font-weight:normal;"> </span>Strong location with good street frontage, which<br>will have strong appeal when attracting new tenants<br><br>● <span style="font-style:normal;font-weight:normal;"> </span><span style="color:rgb(0, 0, 0);">Easy access to public transport</span><br><span style="color:rgb(0, 0, 0);">with bus routes 271 and 279 on your doorstep, and a 10 minute walk to Blackburn Train Station</span><br><br>● <span style="font-style:normal;font-weight:normal;"> </span><span style="color:rgb(0, 0, 0);">Located only 7km from Deakin University</span><br><br>● <span style="font-style:normal;font-weight:normal;"> </span><span style="color:rgb(0, 0, 0);">Close to Blackburn Medical Clinic and Box Hill Hospital</span><br><br>● <span style="font-style:normal;font-weight:normal;"> </span><span style="color:rgb(0, 0, 0);">5 minute drive to Box Hill Central Shopping Centre</span><br><br>●<span style="font-style:normal;font-weight:normal;"> </span>Ideal set and forget secure investment opportunity.<br><br><span style="color:rgb(51, 51, 51);">● Like most new developments, incentives were used to secure good tenants. The vendor will pay out any incentives prior to settlement. </span><br>
