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 2,059*sqm corner site, with significant frontage and exposure to Nepean Highway, a main arterial road servicing 77,000+* vehicles daily.
+ Immaculately presented 2,886*sqm building, and includes and important 82 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: $991,691* 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