 Asset Class: | Office |
 Price: | $ 2120000 |
 Net Yield: | 7.00 % |
Net Yield - including solar strategy: | % |
 Property Market Status: |
Suites 101,102,116,1060 Thompsons Rd, Cranbourne West, provides an attractive, nearly new, 320m2 first floor space within an exciting and growing commercial & residential precinct. The space is leased on an impressive 5-year lease to the well-established ‘Scotia Group’. <br><br>Within Metro Melbourne - high quality office spaces such as this are currently in strong demand, yet low supply – ideal fundamentals for income security and capital growth. <br><br>The asset returns approximately $148,617 per annum (accounting for non-recoverable management fees of 4%, and land tax at $2,103p.a.), delivering an attractive net yield of 7%. The asset will also have excellent depreciation benefits, which will further enhance the after-tax yield. <br><br>The first-floor premises comes fully fitted with high spec office facilities, brand new carpet, plaster walls, separate office spaces with glass panels, fully fitted kitchen and lunchroom space. The asset is securely leased on long lease terms to 2030, or 2040 with option periods. The lease come with attractive annual CPI increases, plus a security deposit for additional security. <br><br>With the asset compromising multiple suites, the asset offers future strategies of accommodating multiple tenants instead of one, and diversifying risk. <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 centre 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, attractive to current and future tenants. <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.
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><br>The Cranbourne West precinct includes a mix of residential and employment uses.<br><br>Precinct structure plan<br><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>
Additional Location Information FileThe Scotia Group is a licensed building company with over 31 years of experience specializing in the strata sector, offering 24/7 building repairs and maintenance services across Victoria, Australia. <br><br>Their comprehensive services include insurance repairs, restoration, and an out-of-hours strata concierge service, catering to the unique needs of strata properties.<br><br>As a tenant, The Scotia Group brings several advantages:<br><br>- Financial Stability: With a long-standing presence in the industry, they have a proven track record of financial reliability.<br><br>- Professional Reputation: Their extensive experience and licensing reflect a commitment to quality and professionalism.<br><br>- Operational Synergy: Their business operations align closely with property management, potentially benefiting property owners through their expertise.<br><br>(<a style="color:rgb(51, 51, 51);display:inline;" target="_blank" href="https://www.scotia.com.au/"><u>https://www.scotia.com.au/</u></a>)<br><br>
Initial Term:
Security:
Security Info:
101,102,116/1060 Thompsons Road, Cranbourne West – 320m2 - $490/m2 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. $148,617 plus GST p.a. (after 4% management fees and land tax which are non-recoverable)<br>• 320m2 of lettable area, with high quality spec fit out, in a near new building<br>• Securely leased on long lease terms to The Scotia Group, with over 30 years’ experience in their field. The Scotia Group's financial stability, professional reputation, and operational synergy make them a strong tenant. <br>• Near new 5 year lease with 2 x 5 year options extending to 2040.<br>• The tenant pays all outgoings apart from land tax and property management<br>• CPI annual increases<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><span style="color:rgb(51, 63, 72);">• 2 Minute Walk to Merinda Park Station</span><br>
