1242a Nepean Highway,
Cheltenham, VIC 3192
Offices • Development Sites & Land • Other
Price information
Sale - Expression of Interest
Contact Agent
Key property information
Land area
Floor area
Property extent
Tenure type
Tenanted Investment Details
Occupancy
Fully Leased
Est. Incomep.a.
$989,235
Number of Tenants
1 Tenant
Tenants / Type
Centrelink
Private inspections
to arrange a private inspection.
Map of 1242a Nepean Highway
Train stations within 5 km of 1242a Nepean Highway, Cheltenham, VIC 3192 Distance Cheltenham Station 385 m Southland Station 1.3 km Mentone Station 1.7 km Mentone 1.7 km Highett Station 2.6 km POWERED BY HERE ©Bus stops within 5 km of 1242a Nepean Highway, Cheltenham, VIC 3192 Distance Nepean Hwy/Centre Dandenong Rd (Cheltenham) 158 m Evesham St/Nepean Hwy (Cheltenham) 343 m Cheltenham Youth Club/Charman Rd (Cheltenham) 391 m Charman Rd/Park Rd (Cheltenham) 422 m Axelton St/Centre Dandenong Rd (Cheltenham) 439 m POWERED BY HERE ©
POWERED BY HERE ©
Land Rich Nepean Highway Freehold + Huge Development Upside | Longstanding Federal Government Tenant
- Renewed 4 Year Lease to Federal Govt
- Activity 1 Zone - Huge Dev Upside
- Impressive 5 Star NABERS rating
Burgess Rawson is proud to exclusively offer to the market Centrelink freehold investment located at 1242a Nepean Highway, Cheltenham VIC for sale via Expressions of Interest closing 3pm (AEST) Thursday 29 August 2024.
Investment highlights include:
+ Renewed 4 Year Lease to the Federal Government to 31 July 2027, plus a further 4 year option to 2031
+ Centrelink: Essential Service Federal Government welfare department.
+ Longstanding tenant ‘Centrelink’ have occupied the premises for over 30+ years.
+ Land Rich 2,055*sqm corner site, with significant frontage and exposure to Nepean Highway, a main arterial road servicing 77,000+* vehicles daily.
+ Immaculately presented 2,866*sqm building, and includes and important 81 on-site and basement car spaces.
+ Impressive and Government required ‘5 Star NABERS Rating’ with significant CAPEX program undertaken by the Vendors.
+ Significant potential future rental uplift with the current rental rate being achieved well under comparable Metropolitan Government rentals
+ Rare ‘Activity 1 Zoning’ presenting substantial future development upside (STCA), with precedence within the immediate area up to 8 levels.
+ Strategic position less than 1km from Westfield -Southland Shopping Centre (over 12million visitors annually)**, less than 800 metres to ‘The Mentone Centre’ LFR Centre featuring Bunnings, Spotlight, Rebel, TKD, and Petbarn and the Cheltenham Employment Hub set to double to 36,500 jobs*****
+ Suburban Rail Loop (SRL) part of Victoria’s Big Build project featuring a ground-breaking new underground train network connecting Melbourne’s south-eastern suburbs, Cheltenham through to Box Hill projected to service 8,000 passengers daily and creating 36,500 jobs and 52,200 residents in Cheltenham.****
+ Favourable CPI Annual Rent Reviews
+ Cheltenham: Situated 18*kilometres from the Melbourne CBD and one of the largest shopping and employment hubs in Melbourne’s south east*****
+ City of Kingston: population of 166,212 in 2024 and expected to rise by 17.8% by 2041 – Centrelink Cheltenham is the only service provider within the municipality.**
+ Net Income: $989,235* pa + GST
Expressions of Interest closing 3:00pm (AEST) Thursday 29 August 2024.
*approx
** Home | City of Kingston | Community profile (id.com.au)
***www.scentregroup.com
****SRL East at Cheltenham - Victoria’s Big Build
*****Let’s explore Cheltenham - Victoria’s Big Build
Investment highlights include:
+ Renewed 4 Year Lease to the Federal Government to 31 July 2027, plus a further 4 year option to 2031
+ Centrelink: Essential Service Federal Government welfare department.
+ Longstanding tenant ‘Centrelink’ have occupied the premises for over 30+ years.
+ Land Rich 2,055*sqm corner site, with significant frontage and exposure to Nepean Highway, a main arterial road servicing 77,000+* vehicles daily.
+ Immaculately presented 2,866*sqm building, and includes and important 81 on-site and basement car spaces.
+ Impressive and Government required ‘5 Star NABERS Rating’ with significant CAPEX program undertaken by the Vendors.
+ Significant potential future rental uplift with the current rental rate being achieved well under comparable Metropolitan Government rentals
+ Rare ‘Activity 1 Zoning’ presenting substantial future development upside (STCA), with precedence within the immediate area up to 8 levels.
+ Strategic position less than 1km from Westfield -Southland Shopping Centre (over 12million visitors annually)**, less than 800 metres to ‘The Mentone Centre’ LFR Centre featuring Bunnings, Spotlight, Rebel, TKD, and Petbarn and the Cheltenham Employment Hub set to double to 36,500 jobs*****
+ Suburban Rail Loop (SRL) part of Victoria’s Big Build project featuring a ground-breaking new underground train network connecting Melbourne’s south-eastern suburbs, Cheltenham through to Box Hill projected to service 8,000 passengers daily and creating 36,500 jobs and 52,200 residents in Cheltenham.****
+ Favourable CPI Annual Rent Reviews
+ Cheltenham: Situated 18*kilometres from the Melbourne CBD and one of the largest shopping and employment hubs in Melbourne’s south east*****
+ City of Kingston: population of 166,212 in 2024 and expected to rise by 17.8% by 2041 – Centrelink Cheltenham is the only service provider within the municipality.**
+ Net Income: $989,235* pa + GST
Expressions of Interest closing 3:00pm (AEST) Thursday 29 August 2024.
*approx
** Home | City of Kingston | Community profile (id.com.au)
***www.scentregroup.com
****SRL East at Cheltenham - Victoria’s Big Build
*****Let’s explore Cheltenham - Victoria’s Big Build
Explore property virtually
Video
If you'd like to inspect this property in person, please to arrange a private inspection.
Property ID: 504646764Last Updated: 22 Oct 2024
1242a Nepean Highway
Cheltenham, VIC 3192
Burgess Rawson - MelbourneLevel 20, 150 Lonsdale Street
MELBOURNE, VIC 3000
MELBOURNE, VIC 3000
Similar properties
Other properties you might be interested in based on the location and property type you are looking at.
Contact Agent
322 Bay Road,Cheltenham, VIC 3192 124 - 312 m²Offices • Showrooms & Large Format Retail • Medical & Consulting
Contact Agent
4/328 Reserve Road,Cheltenham, VIC 3192 204 m²Offices • Shops & Retail • Showrooms & Large Format Retail
Contact Agent
106/33 Ambrose Avenue,Cheltenham, VIC 3192 127 m²Offices • Shops & Retail • Showrooms & Large Format Retail